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Toronto Dominion Bank purchased a new position in shares of Lloyds Banking Group plc (NYSE:LYG – Get Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 40,000 shares of the financial services provider’s stock, valued at approximately $96,000.
A number of other large investors also recently bought and sold shares of LYG. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Lloyds Banking Group by 26.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,888 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 5,564 shares during the period. Eagle Asset Management Inc. boosted its stake in shares of Lloyds Banking Group by 3.3% during the fourth quarter. Eagle Asset Management Inc. now owns 183,990 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 5,865 shares during the period. Sage Rhino Capital LLC raised its holdings in shares of Lloyds Banking Group by 27.1% in the first quarter. Sage Rhino Capital LLC now owns 27,730 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 5,917 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Lloyds Banking Group by 15.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 52,667 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 6,942 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Lloyds Banking Group by 15.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 53,151 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 7,101 shares in the last quarter. Hedge funds and other institutional investors own 1.41% of the company’s stock.
Lloyds Banking Group Stock Performance
LYG opened at $2.10 on Friday. Lloyds Banking Group plc has a 52-week low of $1.90 and a 52-week high of $3.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70. The company has a market cap of $36.25 billion, a P/E ratio of 6.56, a price-to-earnings-growth ratio of 0.20 and a beta of 1.28. The firm’s 50-day moving average price is $2.10 and its 200-day moving average price is $2.29.
Lloyds Banking Group Cuts Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Monday, August 8th will be issued a dividend of $0.0385 per share. The ex-dividend date is Friday, August 5th. This represents a dividend yield of 4.7%. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 25.00%.
Analysts Set New Price Targets
LYG has been the subject of several recent research reports. Berenberg Bank lifted their price objective on Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a report on Friday, July 29th. Royal Bank of Canada lifted their price objective on Lloyds Banking Group from GBX 42 ($0.51) to GBX 45 ($0.54) in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on Lloyds Banking Group from GBX 61 ($0.74) to GBX 64 ($0.77) in a report on Friday, July 29th. Barclays lifted their price objective on Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a report on Friday, July 29th. Finally, Bank of America upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Wednesday, April 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.00.
Lloyds Banking Group Company Profile
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Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom. It operates through three segments: Retail; Commercial Banking; and Insurance and Wealth. 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 and small business customers.
Further Reading
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