Envestnet Asset Management Inc. Boosts Stock Position in Lloyds Banking Group plc (NYSE:LYG)

Envestnet Asset Management Inc. boosted its holdings in shares of Lloyds Banking Group plc (NYSE:LYG) by 49.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,577,101 shares of the financial services provider’s stock after purchasing an additional 2,841,956 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.05% of Lloyds Banking Group worth $23,415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. increased its holdings in shares of Lloyds Banking Group by 30.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 836,234 shares of the financial services provider’s stock valued at $2,283,000 after acquiring an additional 192,994 shares during the last quarter. SYM FINANCIAL Corp bought a new stake in shares of Lloyds Banking Group in the 2nd quarter valued at approximately $69,000. D Orazio & Associates Inc. increased its holdings in shares of Lloyds Banking Group by 62.2% in the 2nd quarter. D Orazio & Associates Inc. now owns 25,111 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 9,630 shares during the last quarter. American Century Companies Inc. grew its stake in Lloyds Banking Group by 17.2% during the 2nd quarter. American Century Companies Inc. now owns 5,472,171 shares of the financial services provider’s stock worth $14,939,000 after buying an additional 804,035 shares during the last quarter. Finally, Choreo LLC grew its stake in Lloyds Banking Group by 503.4% during the 2nd quarter. Choreo LLC now owns 67,857 shares of the financial services provider’s stock worth $189,000 after buying an additional 56,611 shares during the last quarter. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Lloyds Banking Group Trading Up 0.3 %

Shares of NYSE LYG opened at $3.11 on Monday. Lloyds Banking Group plc has a 12 month low of $1.88 and a 12 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 fifty day simple moving average of $3.00 and a 200-day simple moving average of $2.79.

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

Lloyds Banking Group Increases Dividend

The firm also recently disclosed 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 of this dividend was Monday, August 5th. Lloyds Banking Group’s dividend payout ratio is currently 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.