First Eagle Investment Management LLC Sells 402,396 Shares of Lloyds Banking Group PLC $LYG

First Eagle Investment Management LLC lessened its position in shares of Lloyds Banking Group PLC (NYSE:LYG) by 5.4% in the second quarter, HoldingsChannel.com reports. The fund owned 7,001,757 shares of the financial services provider’s stock after selling 402,396 shares during the period. First Eagle Investment Management LLC’s holdings in Lloyds Banking Group were worth $40,820,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LYG. WCM Investment Management LLC bought a new stake in shares of Lloyds Banking Group during the 1st quarter worth $128,228,000. Janney Montgomery Scott LLC boosted its stake in Lloyds Banking Group by 2,413.7% in the first quarter. Janney Montgomery Scott LLC now owns 3,113,464 shares of the financial services provider’s stock valued at $15,661,000 after buying an additional 2,989,604 shares in the last quarter. UBS Group AG grew its position in Lloyds Banking Group by 53.9% in the third quarter. UBS Group AG now owns 6,614,695 shares of the financial services provider’s stock valued at $30,031,000 after acquiring an additional 2,317,927 shares during the last quarter. Renaissance Technologies LLC raised its stake in Lloyds Banking Group by 386.4% during the first quarter. Renaissance Technologies LLC now owns 2,528,180 shares of the financial services provider’s stock worth $12,717,000 after acquiring an additional 2,008,380 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in Lloyds Banking Group by 178.3% during the second quarter. Jane Street Group LLC now owns 2,261,115 shares of the financial services provider’s stock worth $9,610,000 after acquiring an additional 1,448,691 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Wall Street Analyst Weigh In

LYG has been the topic of a number of research analyst reports. Morgan Stanley restated an “overweight” rating on shares of Lloyds Banking Group in a research note on Wednesday. Citigroup reiterated a “buy” rating on shares of Lloyds Banking Group in a research report on Thursday, July 16th. Wall Street Zen lowered shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Berenberg Bank assumed coverage on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. Finally, Bank of America upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Tuesday, September 1st. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Stock Performance

Shares of LYG stock opened at $6.07 on Monday. The firm has a market capitalization of $88.24 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.62 and a beta of 0.87. The company has a current ratio of 1.52, a quick ratio of 0.56 and a debt-to-equity ratio of 2.12. The business’s 50-day moving average price is $6.05 and its 200-day moving average price is $5.61. Lloyds Banking Group PLC has a 12 month low of $4.31 and a 12 month high of $6.34.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.86 billion. Lloyds Banking Group had a net margin of 24.97% and a return on equity of 10.94%. Equities research analysts forecast that Lloyds Banking Group PLC will post 0.55 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, September 25th. Shareholders of record on Monday, August 10th will be given a $0.084 dividend. This represents a yield of 273.0%. The ex-dividend date is Monday, August 10th. Lloyds Banking Group’s dividend payout ratio is 37.21%.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.