Lloyds Banking Group plc (NYSE:LYG) Receives Consensus Recommendation of “Hold” from Brokerages

Lloyds Banking Group plc (NYSE:LYG) has been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $73.44.

Several research firms have recently weighed in on LYG. Deutsche Bank Aktiengesellschaft assumed coverage on Lloyds Banking Group in a research note on Thursday, May 9th. They issued a “buy” rating for the company. Berenberg Bank initiated coverage on shares of Lloyds Banking Group in a research note on Thursday, April 25th. They set a “hold” rating and a $2.75 target price on the stock. Finally, Bank of America upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 21st.

Hedge Funds Weigh In On Lloyds Banking Group

A number of hedge funds have recently made changes to their positions in the business. Mondrian Investment Partners LTD lifted its holdings in Lloyds Banking Group by 39.2% in the 1st quarter. Mondrian Investment Partners LTD now owns 89,948,537 shares of the financial services provider’s stock worth $232,967,000 after purchasing an additional 25,351,270 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Lloyds Banking Group by 149.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 29,696,591 shares of the financial services provider’s stock worth $70,975,000 after buying an additional 17,814,615 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Lloyds Banking Group by 5.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 22,166,362 shares of the financial services provider’s stock worth $52,978,000 after acquiring an additional 1,180,775 shares during the last quarter. Morningstar Investment Services LLC grew its stake in Lloyds Banking Group by 96.9% during the fourth quarter. Morningstar Investment Services LLC now owns 21,147,627 shares of the financial services provider’s stock valued at $50,966,000 after acquiring an additional 10,406,673 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Lloyds Banking Group by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,625,679 shares of the financial services provider’s stock valued at $44,528,000 after acquiring an additional 439,009 shares during the last quarter. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Price Performance

Shares of NYSE:LYG opened at $2.75 on Monday. The company has a market capitalization of $43.46 billion, a PE ratio of 7.24, a PEG ratio of 1.19 and a beta of 1.34. The business has a fifty day moving average price of $2.62 and a 200-day moving average price of $2.37. Lloyds Banking Group has a 1-year low of $1.88 and a 1-year high of $2.87. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.48 and a quick ratio of 1.48.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter. The business had revenue of $14.35 billion during the quarter. Lloyds Banking Group had a net margin of 13.41% and a return on equity of 10.35%. As a group, equities analysts expect that Lloyds Banking Group will post 0.32 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, May 31st. Investors of record on Friday, April 12th will be paid a dividend of $0.046 per share. This represents a dividend yield of 5.9%. The ex-dividend date is Thursday, April 11th. Lloyds Banking Group’s dividend payout ratio (DPR) is 47.37%.

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.