Lloyds Banking Group (NYSE:LYG) Sets New 52-Week High at $3.15

Lloyds Banking Group plc (NYSE:LYG) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $3.15 and last traded at $3.14, with a volume of 672066 shares changing hands. The stock had previously closed at $3.09.

Analyst Upgrades and Downgrades

LYG has been the subject of several research analyst reports. Kepler Capital Markets began coverage on Lloyds Banking Group in a report on Thursday, September 5th. They issued a “hold” rating for the company. Citigroup cut shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 5th. UBS Group reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Stock Down 1.6 %

The stock has a market capitalization of $48.45 billion, a PE ratio of 8.16 and a beta of 1.35. The stock’s 50-day moving average price is $3.00 and its two-hundred day moving average price is $2.80. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.48 and a current ratio of 1.45.

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

Lloyds Banking Group Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, September 20th. Shareholders of record on Monday, August 5th were issued a $0.0546 dividend. This represents a yield of 4.4%. 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. Lloyds Banking Group’s payout ratio is 26.32%.

Hedge Funds Weigh In On Lloyds Banking Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in Lloyds Banking Group by 2.4% during 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 purchasing an additional 439,009 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Lloyds Banking Group by 6.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 223,453 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 13,956 shares in the last quarter. Franklin Resources Inc. raised its holdings in Lloyds Banking Group by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 1,505,728 shares of the financial services provider’s stock worth $3,599,000 after acquiring an additional 7,363 shares during the last quarter. Aigen Investment Management LP bought a new position in Lloyds Banking Group in the 4th quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Lloyds Banking Group by 259.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 11,117 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 8,027 shares during the last quarter. 2.15% of the stock is currently owned by institutional investors.

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.