Lloyds Banking Group (NYSE:LYG) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Lloyds Banking Group (NYSE:LYG – Get Rating) in a research report released on Thursday morning. The brokerage issued a buy rating on the financial services provider’s stock.

LYG has been the subject of a number of other reports. Barclays raised shares of Lloyds Banking Group from an equal weight rating to an overweight rating in a research note on Monday, February 6th. Morgan Stanley boosted their target price on shares of Lloyds Banking Group from GBX 58 ($0.71) to GBX 60 ($0.73) in a research note on Wednesday, January 11th. Royal Bank of Canada raised shares of Lloyds Banking Group from an underperform rating to an outperform rating in a research note on Friday, November 25th. Berenberg Bank boosted their target price on shares of Lloyds Banking Group from GBX 55 ($0.67) to GBX 58 ($0.71) in a research note on Friday, February 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Lloyds Banking Group from GBX 58 ($0.71) to GBX 61 ($0.74) in a research note on Monday, February 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $58.75.

Lloyds Banking Group Stock Performance

Shares of NYSE:LYG traded down $0.12 during trading on Thursday, reaching $2.18. 26,066,536 shares of the company’s stock traded hands, compared to its average volume of 13,210,971. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.47 and a quick ratio of 1.47. Lloyds Banking Group has a 12 month low of $1.70 and a 12 month high of $2.64. The company has a 50 day moving average of $2.46 and a 200-day moving average of $2.20. The stock has a market capitalization of $36.73 billion, a P/E ratio of 5.89, a price-to-earnings-growth ratio of 1.02 and a beta of 1.29.

Lloyds Banking Group Increases Dividend

The business also recently declared 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 positive change from Lloyds Banking Group’s previous Semi-Annual dividend of $0.04. The ex-dividend date of this dividend is Thursday, April 13th. Lloyds Banking Group’s dividend payout ratio is currently 18.92%.

Institutional Trading of Lloyds Banking Group

A number of institutional investors have recently made changes to their positions in LYG. Jane Street Group LLC lifted its stake in shares of Lloyds Banking Group by 203.1% in the 2nd quarter. Jane Street Group LLC now owns 25,791,856 shares of the financial services provider’s stock worth $52,615,000 after acquiring an additional 17,281,593 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Lloyds Banking Group by 91.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 27,526,155 shares of the financial services provider’s stock worth $60,558,000 after purchasing an additional 13,150,123 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Lloyds Banking Group by 4,791.6% in the 4th quarter. Millennium Management LLC now owns 8,329,390 shares of the financial services provider’s stock worth $18,325,000 after purchasing an additional 8,159,110 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Lloyds Banking Group in the 3rd quarter worth approximately $10,095,000. Finally, Bank of Montreal Can raised its holdings in shares of Lloyds Banking Group by 26.0% in the 3rd quarter. Bank of Montreal Can now owns 22,183,022 shares of the financial services provider’s stock worth $40,595,000 after purchasing an additional 4,570,940 shares in the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group Company 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.