Lloyds Banking Group (NYSE:LYG) Hits New 12-Month High at $3.13

Lloyds Banking Group plc (NYSE:LYG)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $3.13 and last traded at $3.12, with a volume of 6759215 shares trading hands. The stock had previously closed at $3.04.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LYG. Royal Bank of Canada cut shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 26th. BNP Paribas raised Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. Deutsche Bank Aktiengesellschaft started coverage on Lloyds Banking Group in a research note on Thursday, May 9th. They issued a “buy” rating on the stock. UBS Group reiterated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Finally, Citigroup cut Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.38.

Lloyds Banking Group Trading Up 3.0 %

The business has a 50 day moving average of $2.92 and a two-hundred day moving average of $2.67. The firm has a market capitalization of $48.92 billion, a price-to-earnings ratio of 8.24 and a beta of 1.35. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.48 and a current ratio of 1.45.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.09 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 10.34% and a net margin of 12.40%. The company had revenue of $9.55 billion for the quarter. Equities analysts predict that Lloyds Banking Group plc will post 0.32 EPS for the current year.

Lloyds Banking Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, September 20th. Stockholders of record on Monday, August 5th will be given a dividend of $0.0546 per share. The ex-dividend date is Monday, August 5th. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. This represents a dividend yield of 4.4%. Lloyds Banking Group’s payout ratio is presently 26.32%.

Hedge Funds Weigh In On Lloyds Banking Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Mondrian Investment Partners LTD lifted its holdings in shares of Lloyds Banking Group by 39.2% in the first quarter. Mondrian Investment Partners LTD now owns 89,948,537 shares of the financial services provider’s stock valued at $232,967,000 after purchasing an additional 25,351,270 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Lloyds Banking Group by 149.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 29,696,591 shares of the financial services provider’s stock worth $70,975,000 after acquiring an additional 17,814,615 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Lloyds Banking Group by 5.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 22,166,362 shares of the financial services provider’s stock worth $52,978,000 after acquiring an additional 1,180,775 shares in the last quarter. Morningstar Investment Services LLC raised its holdings in shares of Lloyds Banking Group by 96.9% in the fourth quarter. Morningstar Investment Services LLC now owns 21,147,627 shares of the financial services provider’s stock valued at $50,966,000 after purchasing an additional 10,406,673 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Lloyds Banking Group by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,625,679 shares of the financial services provider’s stock valued at $44,528,000 after purchasing an additional 439,009 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

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.