HB Wealth Management LLC Sells 8,352 Shares of Lloyds Banking Group PLC $LYG

HB Wealth Management LLC lowered its stake in shares of Lloyds Banking Group PLC (NYSE:LYG) by 14.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,293 shares of the financial services provider’s stock after selling 8,352 shares during the quarter. HB Wealth Management LLC’s holdings in Lloyds Banking Group were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in Lloyds Banking Group during the 2nd quarter worth about $29,000. Ascent Capital Management LLC bought a new stake in Lloyds Banking Group during the 2nd quarter worth about $43,000. Eagle Global Advisors LLC grew its holdings in Lloyds Banking Group by 40.0% during the 2nd quarter. Eagle Global Advisors LLC now owns 700,000 shares of the financial services provider’s stock worth $2,975,000 after acquiring an additional 200,000 shares during the last quarter. Destiny Wealth Partners LLC bought a new stake in Lloyds Banking Group during the 2nd quarter worth about $63,000. Finally, Arlington Capital Management Inc. bought a new stake in Lloyds Banking Group during the 2nd quarter worth about $179,000. Institutional investors own 2.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on LYG shares. Wall Street Zen lowered shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a research note on Monday, September 22nd. Keefe, Bruyette & Woods raised shares of Lloyds Banking Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Zacks Research lowered shares of Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lloyds Banking Group in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Lloyds Banking Group presently has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Performance

Shares of LYG stock opened at $4.54 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.53 and a current ratio of 1.44. The company has a market capitalization of $67.57 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 0.66 and a beta of 1.02. The company’s 50 day moving average price is $4.46 and its two-hundred day moving average price is $4.16. Lloyds Banking Group PLC has a 52 week low of $2.56 and a 52 week high of $4.64.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. The business had revenue of $6.13 billion for the quarter, compared to analyst estimates of $4.86 billion. On average, analysts expect that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

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

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.