Wallace Advisory Group LLC Makes New $59,000 Investment in Lloyds Banking Group plc (NYSE:LYG)

Wallace Advisory Group LLC purchased a new position in Lloyds Banking Group plc (NYSE:LYG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 21,543 shares of the financial services provider’s stock, valued at approximately $59,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mondrian Investment Partners LTD lifted its position in shares of Lloyds Banking Group by 39.2% during the 1st quarter. Mondrian Investment Partners LTD now owns 89,948,537 shares of the financial services provider’s stock valued at $232,967,000 after acquiring an additional 25,351,270 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Lloyds Banking Group by 149.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 29,696,591 shares of the financial services provider’s stock valued at $70,975,000 after acquiring an additional 17,814,615 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Lloyds Banking Group by 5.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 22,166,362 shares of the financial services provider’s stock valued at $52,978,000 after acquiring an additional 1,180,775 shares during the period. Morningstar Investment Services LLC lifted its position in shares of Lloyds Banking Group by 96.9% during the 4th 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 during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Lloyds Banking Group by 49.6% during the second quarter. Envestnet Asset Management Inc. now owns 8,577,101 shares of the financial services provider’s stock worth $23,415,000 after buying an additional 2,841,956 shares during the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LYG shares. UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. Citigroup downgraded shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Kepler Capital Markets began coverage on shares of Lloyds Banking Group in a research note on Thursday, September 5th. They issued a “hold” rating for the company. Finally, BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note on Friday, July 5th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Trading Down 1.0 %

Shares of LYG opened at $3.11 on Tuesday. The firm’s 50 day simple moving average is $3.01 and its 200 day simple moving average is $2.82. The company has a market capitalization of $48.61 billion, a P/E ratio of 8.18 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. Lloyds Banking Group plc has a 1-year low of $1.88 and a 1-year high of $3.18.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.09 EPS 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 for the quarter. Sell-side analysts forecast 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 was paid on Friday, September 20th. Stockholders of record on Monday, August 5th were issued a $0.0546 dividend. This is a boost 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 dividend yield of 4.4%. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 26.32%.

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.