Norges Bank Buys New Stake in Lloyds Banking Group plc (NYSE:LYG)

Norges Bank acquired a new stake in Lloyds Banking Group plc (NYSE:LYG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,000,000 shares of the financial services provider's stock, valued at approximately $5,440,000.

Other hedge funds have also recently modified their holdings of the company. Brentview Investment Management LLC purchased a new position in shares of Lloyds Banking Group during the fourth quarter worth about $31,000. Mesirow Financial Investment Management Inc. acquired a new stake in Lloyds Banking Group during the 4th quarter worth approximately $32,000. SBI Securities Co. Ltd. purchased a new position in shares of Lloyds Banking Group in the 4th quarter valued at approximately $34,000. Jackson Thornton Wealth Management LLC acquired a new position in shares of Lloyds Banking Group in the fourth quarter valued at approximately $34,000. Finally, Simon Quick Advisors LLC purchased a new stake in shares of Lloyds Banking Group during the fourth quarter worth approximately $35,000. 2.15% of the stock is owned by hedge funds and other institutional investors.

Lloyds Banking Group Stock Up 2.9 %

Shares of Lloyds Banking Group stock traded up $0.11 on Tuesday, hitting $3.78. The company's stock had a trading volume of 7,357,979 shares, compared to its average volume of 29,671,980. Lloyds Banking Group plc has a 52-week low of $2.42 and a 52-week high of $3.91. The company has a market capitalization of $57.34 billion, a P/E ratio of 11.44 and a beta of 0.95. The firm has a fifty day moving average price of $3.56 and a 200-day moving average price of $3.10.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $4.76 billion. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. As a group, analysts expect that Lloyds Banking Group plc will post 0.27 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.1035 per share. This represents a dividend yield of 4%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from Lloyds Banking Group's previous semi-annual dividend of $0.05. Lloyds Banking Group's dividend payout ratio is currently 60.61%.

Wall Street Analysts Forecast Growth

LYG has been the topic of several analyst reports. Keefe, Bruyette & Woods downgraded shares of Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. Morgan Stanley upgraded Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, March 4th. Hsbc Global Res upgraded Lloyds Banking Group to a "strong-buy" rating in a research report on Thursday, March 20th. Finally, HSBC raised shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Tuesday, April 1st. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2.75.

About Lloyds Banking Group

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.