Lloyds Banking Group PLC $LYG Shares Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC boosted its position in shares of Lloyds Banking Group PLC (NYSE:LYG) by 22.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 54,630 shares of the financial services provider’s stock after acquiring an additional 10,003 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Lloyds Banking Group were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Lloyds Banking Group during the second quarter worth approximately $29,000. Opal Wealth Advisors LLC acquired a new position in shares of Lloyds Banking Group in the second quarter valued at approximately $35,000. Advisor Resource Council acquired a new position in shares of Lloyds Banking Group in the first quarter valued at approximately $37,000. Earned Wealth Advisors LLC acquired a new position in shares of Lloyds Banking Group in the first quarter valued at approximately $38,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Lloyds Banking Group in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 2.15% of the company’s stock.

Wall Street Analyst Weigh In

LYG has been the topic of a number of recent research reports. Kepler Capital Markets raised Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Thursday, October 9th. Citigroup reissued a “neutral” rating on shares of Lloyds Banking Group in a report on Monday, September 22nd. JPMorgan Chase & Co. raised Lloyds Banking Group from an “underweight” rating to a “neutral” rating in a report on Friday, August 1st. Zacks Research lowered Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Lloyds Banking Group in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Down 0.3%

Shares of NYSE:LYG opened at $4.49 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt-to-equity ratio of 1.68. Lloyds Banking Group PLC has a 52-week low of $2.56 and a 52-week high of $4.69. The stock’s fifty day simple moving average is $4.49 and its 200-day simple moving average is $4.20. The company has a market capitalization of $66.47 billion, a P/E ratio of 11.21, a P/E/G ratio of 0.63 and a beta of 1.02.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. The firm had revenue of $6.13 billion during the quarter, compared to analyst estimates of $4.86 billion. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%. As a group, equities research analysts forecast that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Investors of record on Monday, August 4th were paid a $0.0655 dividend. This represents a yield of 370.0%. The ex-dividend date was Monday, August 4th. Lloyds Banking Group’s dividend payout ratio is presently 32.50%.

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.