Lloyds Banking Group plc (NYSE:LYG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its position in shares of Lloyds Banking Group plc (NYSE:LYG) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,172 shares of the financial services provider’s stock after selling 6,267 shares during the quarter. Rhumbline Advisers’ holdings in Lloyds Banking Group were worth $421,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. First Eagle Investment Management LLC lifted its stake in Lloyds Banking Group by 9.2% in the 1st quarter. First Eagle Investment Management LLC now owns 4,060,740 shares of the financial services provider’s stock valued at $10,517,000 after buying an additional 343,753 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in Lloyds Banking Group by 166.2% in the 1st quarter. CreativeOne Wealth LLC now owns 47,224 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 29,486 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in Lloyds Banking Group by 149.9% in the 4th 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 in the last quarter. CWM LLC lifted its stake in Lloyds Banking Group by 37.9% in the 2nd quarter. CWM LLC now owns 71,039 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 19,525 shares in the last quarter. Finally, Aprio Wealth Management LLC lifted its stake in 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 worth $123,000 after purchasing an additional 19,857 shares in the last quarter. 2.15% of the stock is owned by hedge funds and other institutional investors.

Lloyds Banking Group Stock Performance

Shares of LYG stock opened at $3.17 on Friday. The stock’s 50-day moving average is $3.00 and its two-hundred day moving average is $2.80. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.48 and a current ratio of 1.45. Lloyds Banking Group plc has a 1 year low of $1.88 and a 1 year high of $3.18. The firm has a market cap of $49.47 billion, a price-to-earnings ratio of 8.33 and a beta of 1.35.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings data 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 company had revenue of $9.55 billion during the quarter. Analysts predict that Lloyds Banking Group plc will post 0.32 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LYG shares. Citigroup downgraded shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Kepler Capital Markets started coverage on shares of Lloyds Banking Group in a report on Thursday, September 5th. They set a “hold” rating for the company. UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 5th. Finally, Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Lloyds Banking Group currently has a consensus rating of “Hold” and an average price target of $2.75.

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.