Lazari Capital Management Inc. Makes New $46,000 Investment in Lloyds Banking Group plc (NYSE:LYG)

Lazari Capital Management Inc. bought a new position in Lloyds Banking Group plc (NYSE:LYG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,020 shares of the financial services provider’s stock, valued at approximately $46,000.

A number of other large investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in Lloyds Banking Group in the second quarter worth about $237,000. Clearbridge Investments LLC acquired a new position in shares of Lloyds Banking Group during the second quarter valued at about $36,252,000. Cetera Investment Advisers increased its holdings in shares of Lloyds Banking Group by 0.5% during the second quarter. Cetera Investment Advisers now owns 1,221,301 shares of the financial services provider’s stock valued at $3,334,000 after acquiring an additional 6,381 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Lloyds Banking Group by 22.9% during the second quarter. Truist Financial Corp now owns 389,410 shares of the financial services provider’s stock valued at $1,063,000 after acquiring an additional 72,477 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Lloyds Banking Group during the second quarter valued at about $69,000. 2.15% of the stock is currently owned by institutional investors.

Lloyds Banking Group Trading Down 1.8 %

Shares of LYG opened at $3.07 on Wednesday. Lloyds Banking Group plc has a 52-week low of $1.88 and a 52-week high of $3.18. 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 firm’s fifty day moving average is $3.01 and its two-hundred day moving average is $2.82. The stock has a market cap of $47.90 billion, a PE ratio of 8.07 and a beta of 1.35.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.09 earnings per share for the quarter. The firm 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%. Research 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 declared a semi-annual dividend, which was paid on Friday, September 20th. Stockholders of record on Monday, August 5th were given a dividend of $0.0546 per share. This is a boost from Lloyds Banking Group’s previous semi-annual dividend of $0.05. The ex-dividend date was Monday, August 5th. This represents a dividend yield of 4.4%. Lloyds Banking Group’s payout ratio is presently 26.32%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LYG shares. 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 started coverage on Lloyds Banking Group in a research report on Thursday, September 5th. They issued a “hold” rating on the stock. BNP Paribas upgraded Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. 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, UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Lloyds Banking Group presently has a consensus rating of “Hold” and an average target price of $2.75.

Lloyds Banking Group 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.