Lloyds Banking Group plc (NYSE:LYG) Receives Average Recommendation of “Hold” from Analysts

Lloyds Banking Group plc (NYSE:LYG) has received a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $79.75.

LYG has been the topic of a number of research reports. Bank of America upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, March 21st. Berenberg Bank began coverage on Lloyds Banking Group in a research report on Thursday, April 25th. They set a “hold” rating and a $2.75 price objective for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. boosted its position in Lloyds Banking Group by 6.1% during the 3rd quarter. American Century Companies Inc. now owns 3,986,428 shares of the financial services provider’s stock worth $8,491,000 after acquiring an additional 228,359 shares during the period. Acadian Asset Management LLC purchased a new position in Lloyds Banking Group during the third quarter valued at approximately $1,363,000. UBS Group AG increased its stake in Lloyds Banking Group by 21.9% in the 3rd quarter. UBS Group AG now owns 2,285,047 shares of the financial services provider’s stock valued at $4,867,000 after buying an additional 411,188 shares during the period. Pinnacle Associates Ltd. lifted its position in Lloyds Banking Group by 8.0% in the 4th quarter. Pinnacle Associates Ltd. now owns 157,205 shares of the financial services provider’s stock worth $376,000 after buying an additional 11,600 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of Lloyds Banking Group by 88.3% during the 4th quarter. Ritholtz Wealth Management now owns 344,708 shares of the financial services provider’s stock valued at $824,000 after buying an additional 161,610 shares during the period. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Stock Performance

Shares of NYSE LYG opened at $2.57 on Thursday. Lloyds Banking Group has a 1 year low of $1.88 and a 1 year high of $2.72. The firm has a market cap of $40.94 billion, a P/E ratio of 6.76, a PEG ratio of 1.07 and a beta of 1.32. The stock has a fifty day moving average price of $2.51 and a two-hundred day moving average price of $2.29. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.48 and a current ratio of 1.48.

Lloyds Banking Group (NYSE:LYG) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.09 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 10.35% and a net margin of 13.41%. The business had revenue of $14.35 billion during the quarter. Research analysts forecast that Lloyds Banking Group will post 0.32 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, April 12th will be issued a $0.046 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a dividend yield of 5.9%. Lloyds Banking Group’s payout ratio is currently 47.37%.

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.