Engineers Gate Manager LP grew its holdings in shares of Lloyds Banking Group PLC (NYSE:LYG – Free Report) by 66.0% in the second quarter, Holdings Channel reports. The institutional investor owned 394,145 shares of the financial services provider’s stock after acquiring an additional 156,739 shares during the period. Engineers Gate Manager LP’s holdings in Lloyds Banking Group were worth $2,298,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. WCM Investment Management LLC bought a new position in Lloyds Banking Group in the 1st quarter valued at about $128,228,000. Squarepoint Ops LLC increased its holdings in Lloyds Banking Group by 67.4% during the 2nd quarter. Squarepoint Ops LLC now owns 642,950 shares of the financial services provider’s stock worth $3,748,000 after purchasing an additional 258,941 shares in the last quarter. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Lloyds Banking Group in the second quarter worth approximately $8,072,000. Equitable Trust Co. bought a new position in shares of Lloyds Banking Group in the first quarter valued at approximately $1,906,000. Finally, Assetmark Inc. lifted its holdings in shares of Lloyds Banking Group by 12.7% in the first quarter. Assetmark Inc. now owns 3,849,993 shares of the financial services provider’s stock valued at $19,365,000 after purchasing an additional 433,849 shares in the last quarter. 2.15% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Citigroup reiterated a “buy” rating on shares of Lloyds Banking Group in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Lloyds Banking Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Bank of America raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 1st. Berenberg Bank initiated coverage on shares of Lloyds Banking Group in a research report on Wednesday, June 24th. They issued a “hold” rating for the company. Finally, Morgan Stanley reissued an “overweight” rating on shares of Lloyds Banking Group in a research report on Wednesday, September 2nd. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.
Lloyds Banking Group Price Performance
Shares of NYSE LYG opened at $5.91 on Tuesday. The firm has a market capitalization of $85.61 billion, a P/E ratio of 13.73, a P/E/G ratio of 0.61 and a beta of 0.87. The company has a quick ratio of 0.56, a current ratio of 1.52 and a debt-to-equity ratio of 2.12. The stock’s 50-day simple moving average is $6.05 and its two-hundred day simple moving average is $5.62. Lloyds Banking Group PLC has a twelve month low of $4.36 and a twelve month high of $6.34.
Lloyds Banking Group (NYSE:LYG – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Lloyds Banking Group had a net margin of 24.97% and a return on equity of 10.94%. The business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.86 billion. As a group, equities analysts anticipate that Lloyds Banking Group PLC will post 0.55 EPS for the current fiscal year.
Lloyds Banking Group Cuts Dividend
The business also recently announced a dividend, which will be paid on Friday, September 25th. Shareholders of record on Monday, August 10th will be given a dividend of $0.084 per share. The ex-dividend date is Monday, August 10th. This represents a yield of 273.0%. Lloyds Banking Group’s payout ratio is presently 37.21%.
Lloyds Banking Group Company Profile
Lloyds Banking Group plc is a major United Kingdom financial services provider whose shares trade on the New York Stock Exchange under the symbol LYG. The group serves individuals, families, small businesses and larger commercial customers through a range of banking, lending, insurance, investment and wealth-management services.
Its principal brands include Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Products and services include current and savings accounts, mortgages, personal loans, credit cards, business banking, commercial lending, investment products, pensions and life insurance.
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