Earnest Partners LLC Decreases Stock Holdings in Lloyds Banking Group plc (NYSE:LYG)

Earnest Partners LLC decreased its holdings in shares of Lloyds Banking Group plc (NYSE:LYG) by 8.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 82,504 shares of the financial services provider’s stock after selling 7,196 shares during the period. Earnest Partners LLC’s holdings in Lloyds Banking Group were worth $214,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Naples Money Management LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at $25,000. TCG Advisory Services LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at $25,000. Atria Wealth Solutions Inc. acquired a new position in Lloyds Banking Group in the 4th quarter valued at $26,000. D Orazio & Associates Inc. acquired a new position in Lloyds Banking Group in the 4th quarter valued at $26,000. Finally, Headlands Technologies LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at $27,000. 2.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LYG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Lloyds Banking Group in a research note on Thursday, May 9th. They issued a “buy” rating for the company. Berenberg Bank began coverage on Lloyds Banking Group in a research report on Thursday, April 25th. They set a “hold” rating and a $2.75 price objective for the company. UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday. Royal Bank of Canada cut Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday. Finally, BNP Paribas upgraded Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note on Friday, July 5th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.38.

Lloyds Banking Group Stock Down 2.3 %

Shares of NYSE LYG traded down $0.07 during midday trading on Tuesday, hitting $3.03. 6,833,802 shares of the company’s stock were exchanged, compared to its average volume of 9,192,461. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.45 and a quick ratio of 1.48. Lloyds Banking Group plc has a twelve month low of $1.88 and a twelve month high of $3.13. The company has a market cap of $47.36 billion, a PE ratio of 8.16 and a beta of 1.35. The firm’s fifty day simple moving average is $2.86 and its 200-day simple moving average is $2.57.

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. This represents a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, August 5th. This is a positive change from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s dividend payout ratio (DPR) is 47.37%.

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.