Jackson Thornton Wealth Management LLC Raises Position in Lloyds Banking Group PLC $LYG

Jackson Thornton Wealth Management LLC raised its stake in shares of Lloyds Banking Group PLC (NYSE:LYG) by 59.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,227 shares of the financial services provider’s stock after purchasing an additional 9,059 shares during the period. Jackson Thornton Wealth Management LLC’s holdings in Lloyds Banking Group were worth $100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Riversedge Advisors LLC grew its stake in shares of Lloyds Banking Group by 10.5% during the second quarter. Riversedge Advisors LLC now owns 25,680 shares of the financial services provider’s stock valued at $109,000 after buying an additional 2,433 shares during the last quarter. Drive Wealth Management LLC grew its stake in shares of Lloyds Banking Group by 6.8% during the second quarter. Drive Wealth Management LLC now owns 41,065 shares of the financial services provider’s stock valued at $175,000 after buying an additional 2,599 shares during the last quarter. Perigon Wealth Management LLC grew its stake in shares of Lloyds Banking Group by 4.5% during the first quarter. Perigon Wealth Management LLC now owns 61,411 shares of the financial services provider’s stock valued at $235,000 after buying an additional 2,617 shares during the last quarter. Mutual Advisors LLC grew its stake in shares of Lloyds Banking Group by 27.2% during the first quarter. Mutual Advisors LLC now owns 12,916 shares of the financial services provider’s stock valued at $51,000 after buying an additional 2,758 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in shares of Lloyds Banking Group by 22.1% during the first quarter. SBI Securities Co. Ltd. now owns 15,369 shares of the financial services provider’s stock valued at $59,000 after buying an additional 2,784 shares during the last quarter. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Lloyds Banking Group Stock Down 0.6%

Shares of NYSE:LYG opened at $4.46 on Wednesday. Lloyds Banking Group PLC has a 52-week low of $2.56 and a 52-week high of $4.69. The stock has a market cap of $66.03 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.63 and a beta of 1.02. The business’s 50 day moving average is $4.49 and its 200 day moving average is $4.21. 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 (NYSE:LYG) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. The company had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%. Sell-side analysts predict that Lloyds Banking Group PLC will post 0.27 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Shareholders of record on Monday, August 4th were given a dividend of $0.0655 per share. This represents a yield of 370.0%. The ex-dividend date of this dividend was Monday, August 4th. Lloyds Banking Group’s dividend payout ratio (DPR) is 32.50%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised Lloyds Banking Group from an “underweight” rating to a “neutral” rating in a research note on Friday, August 1st. Royal Bank Of Canada raised Lloyds Banking Group from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 4th. Weiss Ratings cut Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Citigroup reissued a “neutral” rating on shares of Lloyds Banking Group in a research note on Monday, September 22nd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Lloyds Banking Group has a consensus rating of “Moderate Buy”.

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.