Royal Bank of Canada Has $6.05 Million Stock Position in Lloyds Banking Group PLC $LYG

Royal Bank of Canada lifted its position in shares of Lloyds Banking Group PLC (NYSE:LYG) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,202,823 shares of the financial services provider’s stock after purchasing an additional 128,775 shares during the quarter. Royal Bank of Canada’s holdings in Lloyds Banking Group were worth $6,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Tucker Asset Management LLC acquired a new position in shares of Lloyds Banking Group in the fourth quarter valued at $27,000. Cornerstone Planning Group LLC increased its holdings in Lloyds Banking Group by 131.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider’s stock valued at $27,000 after buying an additional 2,915 shares during the period. Harbour Investments Inc. increased its holdings in Lloyds Banking Group by 47.3% in the 4th quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider’s stock valued at $34,000 after buying an additional 2,051 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Lloyds Banking Group in the 4th quarter valued at $35,000. Finally, Manchester Capital Management LLC raised its stake in shares of Lloyds Banking Group by 1,216.6% in the 4th quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider’s stock valued at $43,000 after buying an additional 7,543 shares in the last quarter. 2.15% of the stock is currently owned by institutional investors.

Lloyds Banking Group Price Performance

NYSE:LYG opened at $6.09 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 1.52 and a debt-to-equity ratio of 2.12. The firm has a market cap of $88.79 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.87. Lloyds Banking Group PLC has a 12 month low of $4.20 and a 12 month high of $6.34. The company’s 50-day moving average price is $5.85 and its two-hundred day moving average price is $5.59.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%.The firm had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.86 billion. On average, equities analysts anticipate that Lloyds Banking Group PLC will post 0.54 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LYG shares. Berenberg Bank initiated coverage on shares of Lloyds Banking Group in a research report on Wednesday, June 24th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a research report on Friday, July 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Lloyds Banking Group in a research note on Friday. Citigroup reaffirmed a “buy” rating on shares of Lloyds Banking Group in a report on Thursday, July 16th. Finally, UBS Group raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Lloyds Banking Group has a consensus rating of “Moderate Buy”.

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.