Royal Bank of Canada Has $6.05 Million Position in Lloyds Banking Group PLC $LYG

Royal Bank of Canada boosted its stake in shares of Lloyds Banking Group PLC (NYSE:LYG) by 12.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,202,823 shares of the financial services provider’s stock after purchasing an additional 128,775 shares during the period. Royal Bank of Canada’s holdings in Lloyds Banking Group were worth $6,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. WCM Investment Management LLC acquired a new stake in Lloyds Banking Group during the first quarter valued at $128,228,000. Janney Montgomery Scott LLC lifted its holdings in shares of Lloyds Banking Group by 2,413.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,113,464 shares of the financial services provider’s stock valued at $15,661,000 after buying an additional 2,989,604 shares during the last quarter. UBS Group AG grew its stake in shares of Lloyds Banking Group by 53.9% in the 3rd quarter. UBS Group AG now owns 6,614,695 shares of the financial services provider’s stock valued at $30,031,000 after buying an additional 2,317,927 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Lloyds Banking Group by 386.4% in the first quarter. Renaissance Technologies LLC now owns 2,528,180 shares of the financial services provider’s stock worth $12,717,000 after buying an additional 2,008,380 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Lloyds Banking Group by 178.3% during the second quarter. Jane Street Group LLC now owns 2,261,115 shares of the financial services provider’s stock valued at $9,610,000 after acquiring an additional 1,448,691 shares in the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on LYG shares. Berenberg Bank assumed coverage on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Lloyds Banking Group in a report on Friday. Citigroup reiterated a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday, July 16th. UBS Group raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen cut Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Price Performance

NYSE LYG opened at $6.09 on Wednesday. The stock has a 50-day simple moving average of $5.85 and a 200 day simple moving average of $5.59. Lloyds Banking Group PLC has a twelve month low of $4.20 and a twelve month high of $6.34. The stock has a market capitalization of $88.79 billion, a PE ratio of 14.17, a P/E/G ratio of 0.61 and a beta of 0.87. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.56 and a current ratio of 1.52.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%.The business had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.86 billion. Research analysts anticipate that Lloyds Banking Group PLC will post 0.54 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, September 25th. Investors of record on Monday, August 10th will be paid a dividend of $0.084 per share. This represents a yield of 273.0%. The ex-dividend date is Monday, August 10th. Lloyds Banking Group’s dividend payout ratio is presently 37.21%.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.