Farther Finance Advisors LLC Acquires 3,646 Shares of Lloyds Banking Group PLC $LYG

Farther Finance Advisors LLC lifted its stake in Lloyds Banking Group PLC (NYSE:LYG) by 44.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,766 shares of the financial services provider’s stock after purchasing an additional 3,646 shares during the period. Farther Finance Advisors LLC’s holdings in Lloyds Banking Group were worth $50,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Advisor Resource Council bought a new position in Lloyds Banking Group during the first quarter worth about $37,000. Earned Wealth Advisors LLC bought a new position in Lloyds Banking Group during the 1st quarter worth approximately $38,000. SYM FINANCIAL Corp acquired a new position in Lloyds Banking Group during the first quarter valued at approximately $40,000. Rainey & Randall Wealth Advisors Inc. bought a new stake in Lloyds Banking Group in the first quarter valued at approximately $41,000. Finally, Sowell Financial Services LLC acquired a new stake in Lloyds Banking Group in the first quarter worth $44,000. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Stock Down 0.4%

Lloyds Banking Group stock opened at $4.57 on Tuesday. The company has a fifty day simple moving average of $4.46 and a 200 day simple moving average of $4.16. The company has a current ratio of 1.44, a quick ratio of 0.53 and a debt-to-equity ratio of 1.68. Lloyds Banking Group PLC has a 1-year low of $2.56 and a 1-year high of $4.63. The company has a market cap of $68.10 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 0.66 and a beta of 1.02.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Research analysts anticipate that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, September 19th. Stockholders of record on Monday, August 4th were paid a dividend of $0.0655 per share. The ex-dividend date was Monday, August 4th. This represents a dividend yield of 370.0%. Lloyds Banking Group’s dividend payout ratio is currently 32.50%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LYG shares. The Goldman Sachs Group raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. raised Lloyds Banking Group from an “underweight” rating to a “neutral” rating in a research note on Friday, August 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Lloyds Banking Group in a research report on Monday, August 4th. Keefe, Bruyette & Woods upgraded Lloyds Banking Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Wall Street Zen cut Lloyds Banking Group from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

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.