Wealth Alliance Makes New Investment in Lloyds Banking Group plc (NYSE:LYG)

Wealth Alliance purchased a new position in shares of Lloyds Banking Group plc (NYSE:LYG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 49,564 shares of the financial services provider’s stock, valued at approximately $135,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Angeles Investment Advisors LLC lifted its holdings in Lloyds Banking Group by 38.6% during the second quarter. Angeles Investment Advisors LLC now owns 15,290 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 4,262 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Lloyds Banking Group by 49.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,577,101 shares of the financial services provider’s stock valued at $23,415,000 after purchasing an additional 2,841,956 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Lloyds Banking Group by 30.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 836,234 shares of the financial services provider’s stock worth $2,283,000 after purchasing an additional 192,994 shares in the last quarter. SYM FINANCIAL Corp acquired a new stake in Lloyds Banking Group during the 2nd quarter worth approximately $69,000. Finally, D Orazio & Associates Inc. lifted its stake in Lloyds Banking Group by 62.2% in the second quarter. D Orazio & Associates Inc. now owns 25,111 shares of the financial services provider’s stock valued at $69,000 after buying an additional 9,630 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LYG. Royal Bank of Canada lowered shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. Kepler Capital Markets began coverage on Lloyds Banking Group in a report on Thursday, September 5th. They issued a “hold” rating on the stock. UBS Group reissued a “neutral” rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. BNP Paribas raised Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. Finally, Citigroup downgraded shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.38.

Lloyds Banking Group Stock Up 0.3 %

LYG stock opened at $3.11 on Friday. Lloyds Banking Group plc has a twelve month low of $1.88 and a twelve month high of $3.14. The company has a market cap of $48.61 billion, a price-to-earnings ratio of 8.18 and a beta of 1.35. 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 business has a 50 day moving average price of $3.00 and a two-hundred day moving average price of $2.79.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.09 earnings per share for the quarter. The business had revenue of $9.55 billion for the quarter. Lloyds Banking Group had a net margin of 12.40% and a return on equity of 10.34%. Analysts anticipate that Lloyds Banking Group plc will post 0.32 EPS 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. Investors of record on Monday, August 5th were paid a $0.0546 dividend. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. This represents a yield of 4.4%. The ex-dividend date was Monday, August 5th. Lloyds Banking Group’s dividend payout ratio (DPR) is 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.