Prosperity Consulting Group LLC Sells 66,562 Shares of Lloyds Banking Group plc (NYSE:LYG)

Prosperity Consulting Group LLC cut its position in Lloyds Banking Group plc (NYSE:LYG) by 75.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 21,396 shares of the financial services provider’s stock after selling 66,562 shares during the period. Prosperity Consulting Group LLC’s holdings in Lloyds Banking Group were worth $58,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Mondrian Investment Partners LTD boosted its holdings in shares of Lloyds Banking Group by 39.2% during the 1st quarter. Mondrian Investment Partners LTD now owns 89,948,537 shares of the financial services provider’s stock valued at $232,967,000 after acquiring an additional 25,351,270 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Lloyds Banking Group by 149.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 29,696,591 shares of the financial services provider’s stock worth $70,975,000 after purchasing an additional 17,814,615 shares during the last quarter. Morningstar Investment Services LLC grew its stake in shares of Lloyds Banking Group by 96.9% during the 4th quarter. Morningstar Investment Services LLC now owns 21,147,627 shares of the financial services provider’s stock valued at $50,966,000 after purchasing an additional 10,406,673 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Lloyds Banking Group by 49.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,577,101 shares of the financial services provider’s stock worth $23,415,000 after purchasing an additional 2,841,956 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Lloyds Banking Group by 195.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,833,546 shares of the financial services provider’s stock worth $7,339,000 after buying an additional 1,875,688 shares during the last quarter. 2.15% of the stock is owned by institutional investors.

Lloyds Banking Group Trading Up 0.7 %

Shares of LYG stock opened at $3.05 on Monday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.48 and a current ratio of 1.45. The stock has a fifty day simple moving average of $2.99 and a two-hundred day simple moving average of $2.77. The firm has a market capitalization of $47.67 billion, a PE ratio of 8.03 and a beta of 1.35. Lloyds Banking Group plc has a 52-week low of $1.88 and a 52-week high of $3.14.

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

Lloyds Banking Group Increases Dividend

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

Analyst Upgrades and Downgrades

LYG has been the topic of several recent research reports. Citigroup downgraded shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. UBS Group reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Kepler Capital Markets started coverage on Lloyds Banking Group in a report on Thursday, September 5th. They set a “hold” rating for the company. Royal Bank of Canada downgraded Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 26th. Finally, BNP Paribas upgraded Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note 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. According to data from MarketBeat.com, Lloyds Banking Group presently has a consensus rating of “Hold” and an average price target of $32.38.

Lloyds Banking Group Company 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.