Lloyds Banking Group plc (NYSE:LYG) Receives $2.75 Average PT from Brokerages

Lloyds Banking Group plc (NYSE:LYG) has been assigned an average recommendation of “Hold” from the ten ratings firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $2.75.

LYG has been the topic of a number of recent analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Kepler Capital Markets initiated coverage on Lloyds Banking Group in a research note on Thursday, September 5th. They issued a “hold” rating for the company. BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note on Friday, July 5th. The Goldman Sachs Group began coverage on shares of Lloyds Banking Group in a research report on Friday, October 4th. They issued a “neutral” rating for the company. Finally, Citigroup lowered shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th.

Institutional Investors Weigh In On Lloyds Banking Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC acquired a new stake in shares of Lloyds Banking Group during the second quarter worth $36,252,000. First Eagle Investment Management LLC boosted its holdings in shares of Lloyds Banking Group by 9.2% in the first quarter. First Eagle Investment Management LLC now owns 4,060,740 shares of the financial services provider’s stock worth $10,517,000 after buying an additional 343,753 shares during the period. CreativeOne Wealth LLC increased its position in shares of Lloyds Banking Group by 166.2% in the first quarter. CreativeOne Wealth LLC now owns 47,224 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 29,486 shares in the last quarter. CWM LLC raised its holdings in shares of Lloyds Banking Group by 37.9% during the second quarter. CWM LLC now owns 71,039 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 19,525 shares during the period. Finally, Aprio Wealth Management LLC lifted its position in shares of Lloyds Banking Group by 71.5% in the 1st quarter. Aprio Wealth Management LLC now owns 47,613 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 19,857 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Trading Up 0.6 %

Shares of NYSE LYG opened at $3.22 on Thursday. The company has a market cap of $50.33 billion, a price-to-earnings ratio of 8.47 and a beta of 1.34. The stock’s 50 day simple moving average is $3.06 and its 200 day simple moving average is $2.87. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.89. Lloyds Banking Group has a 12-month low of $1.88 and a 12-month high of $3.22.

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

Lloyds Banking Group Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, September 20th. Investors of record on Monday, August 5th were issued a dividend of $0.0546 per share. This represents a yield of 4.4%. This is a boost from Lloyds Banking Group’s previous semi-annual dividend of $0.05. The ex-dividend date was Monday, August 5th. Lloyds Banking Group’s dividend payout ratio (DPR) is presently 26.32%.

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.