Meritage Portfolio Management Makes New $3.47 Million Investment in Lloyds Banking Group plc (NYSE:LYG)

Meritage Portfolio Management purchased a new stake in Lloyds Banking Group plc (NYSE:LYG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,451,800 shares of the financial services provider’s stock, valued at approximately $3,470,000.

Other institutional investors also recently modified their holdings of the company. Mondrian Investment Partners LTD increased its stake in Lloyds Banking Group by 8.7% in the third quarter. Mondrian Investment Partners LTD now owns 29,131,456 shares of the financial services provider’s stock valued at $62,050,000 after purchasing an additional 2,336,000 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Lloyds Banking Group in the 3rd quarter valued at about $1,807,000. Natixis Advisors L.P. raised its stake in Lloyds Banking Group by 16.2% during the 3rd quarter. Natixis Advisors L.P. now owns 5,281,855 shares of the financial services provider’s stock worth $11,250,000 after buying an additional 735,219 shares during the period. Acadian Asset Management LLC bought a new position in Lloyds Banking Group in the third quarter worth approximately $1,363,000. Finally, Raymond James & Associates increased its holdings in shares of Lloyds Banking Group by 23.9% during the fourth quarter. Raymond James & Associates now owns 2,443,769 shares of the financial services provider’s stock valued at $5,841,000 after acquiring an additional 471,656 shares in the last quarter. 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. Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, March 21st. Berenberg Bank assumed coverage on Lloyds Banking Group in a report on Thursday. They issued a “hold” rating and a $2.75 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Lloyds Banking Group presently has an average rating of “Hold” and a consensus price target of $55.39.

Lloyds Banking Group Stock Performance

Shares of LYG stock traded down $0.02 during trading on Thursday, hitting $2.52. The company’s stock had a trading volume of 11,793,627 shares, compared to its average volume of 9,228,263. Lloyds Banking Group plc has a 52 week low of $1.88 and a 52 week high of $2.72. The company has a market cap of $40.14 billion, a PE ratio of 6.36, a P/E/G ratio of 1.06 and a beta of 1.32. The business has a fifty day moving average of $2.46 and a 200-day moving average of $2.27. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.81.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.11 earnings per share (EPS) for the quarter. Lloyds Banking Group had a net margin of 17.97% and a return on equity of 11.29%. The business had revenue of $19.05 billion during the quarter. As a group, research analysts anticipate that Lloyds Banking Group plc will post 0.32 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, April 12th will be issued a dividend of $0.046 per share. This represents a yield of 5.9%. The ex-dividend date is Thursday, April 11th. Lloyds Banking Group’s dividend payout ratio (DPR) is 45.00%.

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.