Lloyds Banking Group plc (NYSE:LYG) Stock Position Reduced by Citigroup Inc.

Citigroup Inc. cut its stake in shares of Lloyds Banking Group plc (NYSE:LYG – Get Rating) by 4.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 931,509 shares of the financial services provider’s stock after selling 44,479 shares during the period. Citigroup Inc.’s holdings in Lloyds Banking Group were worth $2,049,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. purchased a new position in Lloyds Banking Group during the fourth quarter valued at approximately $25,000. Great Diamond Partners LLC bought a new stake in Lloyds Banking Group in the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its position in Lloyds Banking Group by 380.7% in the third quarter. EverSource Wealth Advisors LLC now owns 14,026 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 11,108 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in Lloyds Banking Group in the third quarter worth approximately $26,000. Finally, Drive Wealth Management LLC bought a new stake in Lloyds Banking Group in the third quarter worth approximately $26,000. 2.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on LYG shares. JPMorgan Chase & Co. decreased their target price on shares of Lloyds Banking Group from GBX 61 ($0.76) to GBX 56 ($0.70) in a research report on Thursday, May 4th. Berenberg Bank boosted their price objective on shares of Lloyds Banking Group from GBX 55 ($0.68) to GBX 58 ($0.72) in a research note on Friday, February 24th. Barclays upgraded shares of Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research note on Monday, February 6th. Credit Suisse Group reduced their price objective on shares of Lloyds Banking Group from GBX 70 ($0.87) to GBX 69 ($0.86) in a research note on Thursday, May 4th. Finally, StockNews.com upgraded shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Lloyds Banking Group presently has an average rating of “Hold” and a consensus target price of $57.29.

Lloyds Banking Group Price Performance

NYSE:LYG opened at $2.24 on Friday. The stock has a market cap of $36.96 billion, a P/E ratio of 5.60, a PEG ratio of 0.97 and a beta of 1.28. Lloyds Banking Group plc has a one year low of $1.70 and a one year high of $2.63. The company has a fifty day moving average price of $2.33 and a 200 day moving average price of $2.33. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.16 and a quick ratio of 1.16.

Lloyds Banking Group (NYSE:LYG – Get Rating) last released its earnings results on Wednesday, February 22nd. The financial services provider reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $14.95 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Lloyds Banking Group had a net margin of 21.31% and a return on equity of 11.52%. Analysts anticipate that Lloyds Banking Group plc will post 0.42 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, April 14th will be paid a $0.076 dividend. This is a boost from Lloyds Banking Group’s previous Semi-Annual dividend of $0.04. The ex-dividend date is Thursday, April 13th. This represents a dividend yield of 5%. Lloyds Banking Group’s dividend payout ratio is currently 37.50%.

Lloyds Banking Group Profile

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Lloyds Banking Group Plc is a financial services company, which engages in the provision of banking and financial services. It operates through the following segments: Retail, Commercial Banking, Insurance and Wealth, and Other. The Retail segment offers broad range of financial service products, including current accounts, savings, mortgages, motor finance and unsecured consumer lending to personal, and small business customers.