Lloyds Banking Group plc (NYSE:LYG) Shares Purchased by First Eagle Investment Management LLC

First Eagle Investment Management LLC boosted its stake in shares of Lloyds Banking Group plc (NYSE:LYG) by 25.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,087,379 shares of the financial services provider’s stock after acquiring an additional 1,026,639 shares during the quarter. First Eagle Investment Management LLC’s holdings in Lloyds Banking Group were worth $13,889,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in Lloyds Banking Group by 234.3% during the fourth quarter. Russell Investments Group Ltd. now owns 11,105 shares of the financial services provider’s stock worth $27,000 after buying an additional 7,783 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 acquiring an additional 8,027 shares during the period. Exencial Wealth Advisors LLC purchased a new position in shares of Lloyds Banking Group in the 4th quarter valued at about $28,000. Transcend Capital Advisors LLC acquired a new position in Lloyds Banking Group in the 2nd quarter worth about $28,000. Finally, Interchange Capital Partners LLC acquired a new position in Lloyds Banking Group in the 2nd quarter worth about $28,000. Institutional investors and hedge funds own 2.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup cut Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. Kepler Capital Markets started coverage on shares of Lloyds Banking Group in a research report on Thursday, September 5th. They set a “hold” rating for the company. Finally, Royal Bank of Canada cut Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.38.

Lloyds Banking Group Price Performance

LYG stock opened at $3.10 on Friday. Lloyds Banking Group plc has a 1 year low of $1.88 and a 1 year high of $3.14. The firm has a market capitalization of $48.45 billion, a PE ratio of 8.16 and a beta of 1.35. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.45 and a quick ratio of 1.48. The business has a 50 day simple moving average of $3.00 and a 200-day simple moving average of $2.78.

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

Lloyds Banking Group Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, September 20th. Shareholders of record on Monday, August 5th will be issued a $0.0546 dividend. This represents a yield of 4.4%. This is a positive change from Lloyds Banking Group’s previous semi-annual dividend of $0.05. The ex-dividend date of this dividend is Monday, August 5th. Lloyds Banking Group’s payout ratio is presently 26.32%.

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.