Naviter Wealth LLC Raises Holdings in Lloyds Banking Group PLC $LYG

Naviter Wealth LLC lifted its position in Lloyds Banking Group PLC (NYSE:LYG) by 5.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 379,011 shares of the financial services provider’s stock after purchasing an additional 18,993 shares during the period. Naviter Wealth LLC’s holdings in Lloyds Banking Group were worth $1,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of LYG. Goldman Sachs Group Inc. boosted its stake in shares of Lloyds Banking Group by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,154,117 shares of the financial services provider’s stock worth $92,269,000 after buying an additional 1,397,163 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Lloyds Banking Group by 15.5% in the 1st quarter. Millennium Management LLC now owns 8,199,299 shares of the financial services provider’s stock worth $31,321,000 after buying an additional 1,100,359 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of 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 worth $40,083,000 after buying an additional 863,347 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Lloyds Banking Group by 7,365.0% in the 1st quarter. Focus Partners Wealth now owns 817,494 shares of the financial services provider’s stock worth $3,123,000 after buying an additional 806,543 shares during the last quarter. Finally, Inspire Investing LLC purchased a new position in shares of Lloyds Banking Group in the 2nd quarter worth $2,649,000. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Lloyds Banking Group from an “underweight” rating to a “neutral” rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised Lloyds Banking Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. The Goldman Sachs Group raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Tuesday, August 5th. Weiss Ratings cut Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Price Performance

NYSE:LYG opened at $4.53 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt-to-equity ratio of 1.68. The business’s 50-day simple moving average is $4.48 and its two-hundred day simple moving average is $4.19. The stock has a market cap of $67.43 billion, a PE ratio of 11.31, a P/E/G ratio of 0.63 and a beta of 1.02. Lloyds Banking Group PLC has a 52 week low of $2.56 and a 52 week high of $4.69.

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

Lloyds Banking Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, September 19th. Investors of record on Monday, August 4th were given a $0.0655 dividend. The ex-dividend date was Monday, August 4th. This represents a yield of 370.0%. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 30.00%.

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.