Flputnam Investment Management Co. Sells 5,032 Shares of Lloyds Banking Group plc (NYSE:LYG)

Flputnam Investment Management Co. trimmed its stake in Lloyds Banking Group plc (NYSE:LYG) by 27.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,988 shares of the financial services provider’s stock after selling 5,032 shares during the quarter. Flputnam Investment Management Co.’s holdings in Lloyds Banking Group were worth $31,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LYG. Riversedge Advisors LLC acquired a new position in Lloyds Banking Group in the fourth quarter worth $27,000. Radnor Capital Management LLC acquired a new position in Lloyds Banking Group in the third quarter worth $26,000. Cherrydale Wealth Management LLC acquired a new position in Lloyds Banking Group in the fourth quarter worth $29,000. Johnson Investment Counsel Inc. acquired a new position in Lloyds Banking Group in the third quarter worth $27,000. Finally, Waldron Private Wealth LLC acquired a new position in Lloyds Banking Group in the fourth quarter worth $30,000. 2.15% of the stock is currently owned by institutional investors.

Lloyds Banking Group Trading Up 0.4 %

NYSE:LYG opened at $2.52 on Friday. Lloyds Banking Group plc has a 1-year low of $1.88 and a 1-year high of $2.72. The business’s 50-day moving average price is $2.43 and its two-hundred day moving average price is $2.26. 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 firm has a market capitalization of $40.14 billion, a price-to-earnings ratio of 6.30, a PEG ratio of 1.04 and a beta of 1.32.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Thursday, February 22nd. The financial services provider reported $0.11 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 11.29% and a net margin of 17.97%. The firm had revenue of $19.05 billion for the quarter. On average, equities analysts expect that Lloyds Banking Group plc will post 0.32 earnings per share 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. Shareholders of record on Friday, April 12th will be paid a $0.046 dividend. This represents a yield of 5.9%. The ex-dividend date of this dividend is Thursday, April 11th. Lloyds Banking Group’s payout ratio is 45.00%.

Analyst Ratings Changes

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

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.