Allspring Global Investments Holdings LLC Buys 40,799 Shares of Lloyds Banking Group plc (NYSE:LYG)

Allspring Global Investments Holdings LLC increased its position in shares of Lloyds Banking Group plc (NYSE:LYG) by 121.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,351 shares of the financial services provider’s stock after acquiring an additional 40,799 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lloyds Banking Group were worth $203,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of Lloyds Banking Group by 22.8% during the second quarter. Bank of New York Mellon Corp now owns 648,513 shares of the financial services provider’s stock worth $1,770,000 after purchasing an additional 120,257 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Lloyds Banking Group by 97.1% during the second quarter. Raymond James Trust N.A. now owns 35,934 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 17,702 shares in the last quarter. AMG National Trust Bank grew its stake in Lloyds Banking Group by 0.4% in the second quarter. AMG National Trust Bank now owns 1,001,075 shares of the financial services provider’s stock valued at $2,733,000 after acquiring an additional 3,976 shares during the period. JB Capital LLC bought a new stake in shares of Lloyds Banking Group in the second quarter worth about $41,000. Finally, Vicus Capital raised its position in shares of Lloyds Banking Group by 24.2% during the second quarter. Vicus Capital now owns 37,873 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 7,390 shares during the period. Institutional investors and hedge funds own 2.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank of Canada cut Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 26th. UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Kepler Capital Markets initiated coverage on shares of Lloyds Banking Group in a research report on Thursday. They issued a “hold” rating on the stock. Citigroup cut Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Finally, BNP Paribas raised Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.38.

Lloyds Banking Group Trading Down 3.3 %

NYSE:LYG opened at $2.93 on Friday. Lloyds Banking Group plc has a twelve month low of $1.88 and a twelve month high of $3.14. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.89. The business has a 50 day moving average price of $2.97 and a two-hundred day moving average price of $2.74. The company has a market cap of $45.79 billion, a P/E ratio of 7.71 and a beta of 1.35.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.09 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 10.34% and a net margin of 12.40%. The firm had revenue of $9.55 billion during the quarter. As a group, analysts expect that Lloyds Banking Group plc will post 0.32 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, September 20th. Stockholders of record on Monday, August 5th will be issued a $0.0546 dividend. This represents a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, August 5th. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s dividend payout ratio is presently 26.32%.

Lloyds Banking Group Profile

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.