Naviter Wealth LLC Sells 13,550 Shares of Lloyds Banking Group plc (NYSE:LYG)

Naviter Wealth LLC reduced its stake in Lloyds Banking Group plc (NYSE:LYG) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 365,851 shares of the financial services provider’s stock after selling 13,550 shares during the period. Naviter Wealth LLC’s holdings in Lloyds Banking Group were worth $1,141,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Transcend Capital Advisors LLC bought a new stake in shares of Lloyds Banking Group in the second quarter worth about $28,000. Interchange Capital Partners LLC purchased a new position in Lloyds Banking Group during the 2nd quarter valued at approximately $28,000. Intergy Private Wealth LLC bought a new stake in Lloyds Banking Group in the 2nd quarter worth approximately $29,000. Susquehanna International Securities Ltd. purchased a new stake in shares of Lloyds Banking Group during the 1st quarter worth approximately $30,000. Finally, Tcwp LLC bought a new position in shares of Lloyds Banking Group during the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on LYG. Citigroup downgraded shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Royal Bank of Canada downgraded Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 26th. The Goldman Sachs Group initiated coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They issued a “neutral” rating for the company. Kepler Capital Markets assumed coverage on Lloyds Banking Group in a report on Thursday, September 5th. They issued a “hold” rating on the stock. Finally, BNP Paribas upgraded Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 5th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Stock Up 1.3 %

Shares of NYSE:LYG opened at $3.20 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.89. The business’s 50 day moving average is $3.05 and its 200 day moving average is $2.86. The stock has a market cap of $50.01 billion, a P/E ratio of 8.42 and a beta of 1.34. Lloyds Banking Group plc has a 52-week low of $1.88 and a 52-week high of $3.20.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.09 EPS for the quarter. Lloyds Banking Group had a return on equity of 10.34% and a net margin of 12.40%. The firm had revenue of $9.55 billion for the quarter. Sell-side 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 declared a semi-annual dividend, which was paid on Friday, September 20th. Stockholders of record on Monday, August 5th were given a $0.0546 dividend. This represents a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, August 5th. This is a boost from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s dividend payout ratio is presently 26.32%.

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.