Lloyds Banking Group plc (NYSE:LYG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Lloyds Banking Group plc (NYSE:LYG) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $49.38.

Several equities analysts have weighed in on the stock. BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. UBS Group reissued a “neutral” rating on shares of Lloyds Banking Group in a research note on Tuesday, July 30th. Berenberg Bank started coverage on Lloyds Banking Group in a research note on Thursday, April 25th. They set a “hold” rating and a $2.75 target price on the stock. Citigroup cut shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 26th.

Lloyds Banking Group Trading Down 0.7 %

LYG stock traded down $0.02 during mid-day trading on Friday, reaching $2.87. 7,080,302 shares of the stock traded hands, compared to its average volume of 9,404,979. The stock’s fifty day moving average is $2.88 and its 200-day moving average is $2.61. The company has a market cap of $44.86 billion, a P/E ratio of 7.55 and a beta of 1.35. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.89. Lloyds Banking Group has a 52-week low of $1.88 and a 52-week high of $3.13.

Lloyds Banking Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 5th will be paid a $0.0546 dividend. 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 payout ratio is presently 26.32%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LYG. Mondrian Investment Partners LTD grew its position in shares of Lloyds Banking Group by 39.2% in the first quarter. Mondrian Investment Partners LTD now owns 89,948,537 shares of the financial services provider’s stock valued at $232,967,000 after purchasing an additional 25,351,270 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Lloyds Banking Group by 149.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 29,696,591 shares of the financial services provider’s stock worth $70,975,000 after purchasing an additional 17,814,615 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Lloyds Banking Group by 5.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 22,166,362 shares of the financial services provider’s stock valued at $52,978,000 after buying an additional 1,180,775 shares in the last quarter. Morningstar Investment Services LLC grew its stake in Lloyds Banking Group by 96.9% during the fourth quarter. Morningstar Investment Services LLC now owns 21,147,627 shares of the financial services provider’s stock worth $50,966,000 after buying an additional 10,406,673 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Lloyds Banking Group by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,625,679 shares of the financial services provider’s stock valued at $44,528,000 after purchasing an additional 439,009 shares during the last quarter. 2.15% of the stock is owned by institutional investors.

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.