Brokerages Set Lloyds Banking Group plc (NYSE:LYG) PT at $2.75

Shares of Lloyds Banking Group plc (NYSE:LYG) have been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $2.75.

LYG has been the subject of a number of analyst reports. Kepler Capital Markets began coverage on shares of Lloyds Banking Group in a report on Thursday, September 5th. They set a “hold” rating for the company. Royal Bank of Canada lowered Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 26th. BNP Paribas upgraded Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. UBS Group reiterated a “neutral” rating on shares of Lloyds Banking Group in a research note on Tuesday, July 30th. Finally, Citigroup cut Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th.

Lloyds Banking Group Stock Up 2.3 %

LYG stock opened at $3.16 on Friday. The business’s 50-day simple moving average is $3.00 and its 200 day simple moving average is $2.80. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.89. The company has a market cap of $49.39 billion, a PE ratio of 8.32 and a beta of 1.35. Lloyds Banking Group has a twelve month low of $1.88 and a twelve month high of $3.17.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.09 EPS for the quarter. Lloyds Banking Group had a return on equity of 10.34% and a net margin of 12.40%. The business had revenue of $9.55 billion during the quarter. On average, research analysts anticipate that Lloyds Banking Group will post 0.32 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, September 20th. Shareholders of record on Monday, August 5th were given a $0.0546 dividend. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. The ex-dividend date of this dividend was Monday, August 5th. This represents a yield of 4.4%. Lloyds Banking Group’s payout ratio is presently 26.32%.

Hedge Funds Weigh In On Lloyds Banking Group

A number of large investors have recently modified their holdings of LYG. Mondrian Investment Partners LTD raised its stake in shares of Lloyds Banking Group by 39.2% during the first quarter. Mondrian Investment Partners LTD now owns 89,948,537 shares of the financial services provider’s stock worth $232,967,000 after buying an additional 25,351,270 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Lloyds Banking Group by 149.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 29,696,591 shares of the financial services provider’s stock worth $70,975,000 after purchasing an additional 17,814,615 shares during the last quarter. Goldman Sachs Group Inc. grew its stake 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 purchasing an additional 1,180,775 shares during the period. Morningstar Investment Services LLC increased its holdings in Lloyds Banking Group by 96.9% in 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 purchasing an additional 10,406,673 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Lloyds Banking Group by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,625,679 shares of the financial services provider’s stock worth $44,528,000 after buying an additional 439,009 shares during the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.

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.