Sequoia Financial Advisors LLC Boosts Position in Lloyds Banking Group plc (NYSE:LYG)

Sequoia Financial Advisors LLC increased its holdings in shares of Lloyds Banking Group plc (NYSE:LYG) by 457.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 330,631 shares of the financial services provider’s stock after purchasing an additional 271,372 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Lloyds Banking Group were worth $790,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Riversedge Advisors LLC purchased a new stake in Lloyds Banking Group during the fourth quarter worth approximately $27,000. Radnor Capital Management LLC acquired a new position in Lloyds Banking Group during the third quarter worth approximately $26,000. Cherrydale Wealth Management LLC acquired a new position in Lloyds Banking Group during the fourth quarter worth approximately $29,000. Johnson Investment Counsel Inc. acquired a new position in Lloyds Banking Group during the third quarter worth approximately $27,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Lloyds Banking Group during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Bank of America raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.17.

Lloyds Banking Group Stock Performance

NYSE:LYG opened at $2.48 on Tuesday. The firm has a market cap of $39.42 billion, a P/E ratio of 6.19, a PEG ratio of 1.01 and a beta of 1.32. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.81. The stock’s 50 day simple moving average is $2.40 and its 200-day simple moving average is $2.25. Lloyds Banking Group plc has a 12-month low of $1.88 and a 12-month high of $2.72.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Thursday, February 22nd. The financial services provider reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $19.05 billion for the quarter. Lloyds Banking Group had a return on equity of 11.29% and a net margin of 17.97%. Equities analysts anticipate that Lloyds Banking Group plc will post 0.32 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, April 12th will be issued a $0.046 dividend. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend is Thursday, April 11th. Lloyds Banking Group’s payout ratio is currently 45.00%.

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.