Kepler Capital Markets Initiates Coverage on Lloyds Banking Group (NYSE:LYG)

Kepler Capital Markets started coverage on shares of Lloyds Banking Group (NYSE:LYG) in a research report released on Thursday, MarketBeat reports. The brokerage issued a hold rating on the financial services provider’s stock.

Several other research firms have also weighed in on LYG. UBS Group reiterated a neutral rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Citigroup lowered shares of Lloyds Banking Group from a buy rating to a neutral rating in a report on Monday, August 5th. Royal Bank of Canada lowered shares of Lloyds Banking Group from an outperform rating to a sector perform rating in a report on Friday, July 26th. BNP Paribas upgraded shares of Lloyds Banking Group from a neutral rating to an outperform rating in a report on Friday, July 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lloyds Banking Group in a report on Thursday, May 9th. They issued a buy rating on the stock. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $32.38.

Lloyds Banking Group Stock Down 3.3 %

Shares of NYSE LYG opened at $2.93 on Thursday. Lloyds Banking Group has a 12-month low of $1.88 and a 12-month high of $3.14. The stock has a market cap of $45.79 billion, a PE ratio of 7.71 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. The company has a 50-day moving average of $2.97 and a 200 day moving average of $2.74.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $9.55 billion during the quarter. Lloyds Banking Group had a net margin of 12.40% and a return on equity of 10.34%. As a group, sell-side analysts predict that Lloyds Banking Group will post 0.32 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, September 20th. Stockholders of record on Monday, August 5th will be issued a $0.0546 dividend. This is a positive change from Lloyds Banking Group’s previous semi-annual dividend of $0.05. This represents a dividend yield of 4.4%. The ex-dividend date is Monday, August 5th. Lloyds Banking Group’s dividend payout ratio is currently 26.32%.

Hedge Funds Weigh In On Lloyds Banking Group

Large investors have recently made changes to their positions in the stock. D Orazio & Associates Inc. purchased a new stake in Lloyds Banking Group during the 4th quarter worth approximately $26,000. Atria Wealth Solutions Inc. purchased a new stake in Lloyds Banking Group during the 4th quarter worth approximately $26,000. Russell Investments Group Ltd. increased its stake in Lloyds Banking Group by 234.3% during the 4th quarter. Russell Investments Group Ltd. now owns 11,105 shares of the financial services provider’s stock worth $27,000 after buying an additional 7,783 shares during the period. EverSource Wealth Advisors LLC increased its stake in Lloyds Banking Group by 259.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 11,117 shares of the financial services provider’s stock worth $27,000 after buying an additional 8,027 shares during the period. Finally, Exencial Wealth Advisors LLC purchased a new stake in Lloyds Banking Group during the 4th quarter worth approximately $28,000. 2.15% of the stock is currently owned by institutional investors and hedge funds.

About Lloyds Banking Group

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.