New Republic Capital LLC Sells 3,967 Shares of Lloyds Banking Group PLC (NYSE:LYG)

New Republic Capital LLC trimmed its holdings in Lloyds Banking Group PLC (NYSE:LYG) by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,916 shares of the financial services provider’s stock after selling 3,967 shares during the period. New Republic Capital LLC’s holdings in Lloyds Banking Group were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its position in shares of Lloyds Banking Group by 11.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 26,669,053 shares of the financial services provider’s stock valued at $72,540,000 after acquiring an additional 2,713,559 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Lloyds Banking Group by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,404,259 shares of the financial services provider’s stock valued at $44,620,000 after acquiring an additional 453,326 shares in the last quarter. Northern Trust Corp lifted its position in shares of Lloyds Banking Group by 34.7% in the fourth quarter. Northern Trust Corp now owns 15,604,325 shares of the financial services provider’s stock valued at $42,444,000 after acquiring an additional 4,021,039 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Lloyds Banking Group by 9.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,492,898 shares of the financial services provider’s stock valued at $40,083,000 after acquiring an additional 863,347 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Lloyds Banking Group by 225.0% in the 4th quarter. Millennium Management LLC now owns 7,098,940 shares of the financial services provider’s stock valued at $19,309,000 after acquiring an additional 4,914,680 shares during the last quarter. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Lloyds Banking Group Stock Performance

Shares of NYSE:LYG opened at $4.22 on Tuesday. Lloyds Banking Group PLC has a 52 week low of $2.56 and a 52 week high of $4.34. The stock has a market capitalization of $63.33 billion, a P/E ratio of 10.55, a PEG ratio of 0.91 and a beta of 0.99. The firm has a fifty day simple moving average of $4.19 and a two-hundred day simple moving average of $3.76. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt-to-equity ratio of 1.68.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. The business had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $4.86 billion. On average, analysts expect that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 4th will be paid a dividend of $0.0655 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a dividend yield of 3.7%. Lloyds Banking Group’s dividend payout ratio is presently 55.00%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LYG. HSBC upgraded shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods upgraded shares of Lloyds Banking Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Saturday. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lloyds Banking Group has an average rating of “Moderate Buy”.

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.