Angeles Wealth Management LLC Makes New Investment in Lloyds Banking Group PLC $LYG

Angeles Wealth Management LLC bought a new position in Lloyds Banking Group PLC (NYSE:LYG) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 18,079 shares of the financial services provider’s stock, valued at approximately $77,000.

A number of other institutional investors have also bought and sold shares of LYG. Goldman Sachs Group Inc. lifted its stake in Lloyds Banking Group by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,154,117 shares of the financial services provider’s stock worth $92,269,000 after purchasing an additional 1,397,163 shares in the last quarter. Millennium Management LLC raised its position in shares of Lloyds Banking Group by 15.5% during the 1st quarter. Millennium Management LLC now owns 8,199,299 shares of the financial services provider’s stock valued at $31,321,000 after buying an additional 1,100,359 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Lloyds Banking Group by 9.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,492,898 shares of the financial services provider’s stock valued at $40,083,000 after buying an additional 863,347 shares during the period. Focus Partners Wealth raised its position in shares of Lloyds Banking Group by 7,365.0% during the 1st quarter. Focus Partners Wealth now owns 817,494 shares of the financial services provider’s stock valued at $3,123,000 after buying an additional 806,543 shares during the period. Finally, Inspire Investing LLC purchased a new stake in shares of Lloyds Banking Group during the 2nd quarter valued at approximately $2,649,000. 2.15% of the stock is owned by hedge funds and other institutional investors.

Lloyds Banking Group Stock Performance

NYSE:LYG opened at $4.49 on Friday. The company has a fifty day simple moving average of $4.49 and a two-hundred day simple moving average of $4.20. The company has a market cap of $66.47 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 0.63 and a beta of 1.02. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt-to-equity ratio of 1.68. Lloyds Banking Group PLC has a 52 week low of $2.56 and a 52 week high of $4.69.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $4.86 billion. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. As a group, equities 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 company also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Investors 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 payout ratio is presently 32.50%.

Analyst Upgrades and Downgrades

LYG has been the topic of several analyst reports. Keefe, Bruyette & Woods raised shares of Lloyds Banking Group from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Kepler Capital Markets raised Lloyds Banking Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. raised Lloyds Banking Group from an “underweight” rating to a “neutral” rating in a research report on Friday, August 1st. Royal Bank Of Canada raised Lloyds Banking Group from a “sector perform” rating to an “outperform” rating in a research report on Monday, August 4th. Finally, Weiss Ratings lowered Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock 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.