Royal Bank of Canada cut shares of Lloyds Banking Group (NYSE:LYG – Free Report) from an outperform rating to a sector perform rating in a report released on Friday morning, Marketbeat.com reports.
A number of other equities analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Lloyds Banking Group in a report on Thursday, May 9th. They set a buy rating for the company. Berenberg Bank initiated coverage on Lloyds Banking Group in a report on Thursday, April 25th. They set a hold rating and a $2.75 price target for the company. Finally, BNP Paribas raised Lloyds Banking Group from a neutral rating to an outperform rating in a report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $32.38.
View Our Latest Research Report on Lloyds Banking Group
Lloyds Banking Group Price Performance
Lloyds Banking Group Increases Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 5th will be given a dividend of $0.0546 per share. The ex-dividend date is Monday, August 5th. This represents a yield of 4.4%. This is a positive change from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s payout ratio is currently 47.37%.
Institutional Investors Weigh In On Lloyds Banking Group
Hedge funds and other institutional investors have recently bought and sold shares of the company. Naples Money Management LLC bought a new stake in Lloyds Banking Group during the 4th quarter worth $25,000. TCG Advisory Services LLC bought a new stake in Lloyds Banking Group during the 4th quarter worth $25,000. Atria Wealth Solutions Inc. bought a new stake in Lloyds Banking Group during the 4th quarter worth $26,000. D Orazio & Associates Inc. bought a new stake in Lloyds Banking Group during the 4th quarter worth $26,000. Finally, Headlands Technologies LLC bought a new stake in Lloyds Banking Group during the 4th quarter worth $27,000. Institutional investors own 2.15% of the company’s stock.
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.
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