Steward Partners Investment Advisory LLC Increases Position in Lloyds Banking Group plc (NYSE:LYG)

Steward Partners Investment Advisory LLC lifted its stake in Lloyds Banking Group plc (NYSE:LYG) by 38.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,425 shares of the financial services provider’s stock after purchasing an additional 7,020 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Lloyds Banking Group were worth $69,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Brentview Investment Management LLC bought a new position in shares of Lloyds Banking Group in the 4th quarter worth $31,000. SBI Securities Co. Ltd. purchased a new position in shares of Lloyds Banking Group in the fourth quarter worth $34,000. Simon Quick Advisors LLC acquired a new stake in Lloyds Banking Group during the 4th quarter worth about $35,000. Cerro Pacific Wealth Advisors LLC acquired a new stake in Lloyds Banking Group during the 4th quarter worth about $37,000. Finally, CIBC Asset Management Inc acquired a new stake in Lloyds Banking Group during the 4th quarter worth about $38,000. 2.15% of the stock is owned by hedge funds and other institutional investors.

Lloyds Banking Group Trading Down 0.1 %

Lloyds Banking Group stock opened at $3.71 on Wednesday. Lloyds Banking Group plc has a twelve month low of $2.42 and a twelve month high of $3.91. The stock’s fifty day simple moving average is $3.24 and its 200-day simple moving average is $3.01. The firm has a market capitalization of $56.28 billion, a P/E ratio of 11.23 and a beta of 1.25.

Lloyds Banking Group (NYSE:LYG) last posted its earnings results on Thursday, February 20th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. Sell-side analysts predict that Lloyds Banking Group plc will post 0.27 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, April 11th will be paid a $0.1035 dividend. This represents a yield of 4%. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s dividend payout ratio is currently 60.61%.

Wall Street Analyst Weigh In

LYG has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lowered Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Morgan Stanley upgraded Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.75.

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.