Cookson Peirce & Co. Inc. Makes New Investment in Lloyds Banking Group PLC $LYG

Cookson Peirce & Co. Inc. bought a new position in shares of Lloyds Banking Group PLC (NYSE:LYG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 532,595 shares of the financial services provider’s stock, valued at approximately $2,264,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in Lloyds Banking Group during the 2nd quarter valued at $29,000. Opal Wealth Advisors LLC acquired a new stake in Lloyds Banking Group during the 2nd quarter valued at $35,000. Ameritas Advisory Services LLC acquired a new stake in Lloyds Banking Group during the 2nd quarter valued at $38,000. Halbert Hargrove Global Advisors LLC increased its holdings in Lloyds Banking Group by 10,836.3% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 9,952 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 9,861 shares in the last quarter. Finally, Earned Wealth Advisors LLC acquired a new stake in Lloyds Banking Group during the 1st quarter valued at $38,000. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Stock Down 0.6%

Shares of Lloyds Banking Group stock opened at $4.46 on Wednesday. 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 12 month low of $2.56 and a 12 month high of $4.69. The business has a fifty day simple moving average of $4.49 and a 200 day simple moving average of $4.21. The stock has a market cap of $66.03 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 0.63 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 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Research analysts predict that Lloyds Banking Group PLC will post 0.27 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The business also recently disclosed 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 of this dividend was Monday, August 4th. This represents a dividend yield of 370.0%. Lloyds Banking Group’s payout ratio is 32.50%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada raised Lloyds Banking Group from a “sector perform” rating to an “outperform” rating in a report on Monday, August 4th. Citigroup reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a report on Monday, September 22nd. Kepler Capital Markets raised Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Morgan Stanley reissued an “overweight” rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. Finally, Zacks Research cut Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

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.