Marcum Wealth LLC Boosts Stake in Lloyds Banking Group plc (NYSE:LYG)

Marcum Wealth LLC lifted its stake in shares of Lloyds Banking Group plc (NYSE:LYG) by 16.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,780 shares of the financial services provider’s stock after purchasing an additional 11,540 shares during the period. Marcum Wealth LLC’s holdings in Lloyds Banking Group were worth $226,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LYG. Naples Money Management LLC bought a new stake in shares of Lloyds Banking Group during the 4th quarter worth $25,000. TCG Advisory Services LLC purchased a new position in shares of Lloyds Banking Group during the fourth quarter valued at about $25,000. Atria Wealth Solutions Inc. bought a new stake in Lloyds Banking Group during the fourth quarter worth about $26,000. D Orazio & Associates Inc. bought a new position in shares of Lloyds Banking Group in the fourth quarter worth approximately $26,000. Finally, Headlands Technologies LLC bought a new position in shares of Lloyds Banking Group in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LYG. UBS Group reiterated a “neutral” rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft began coverage on shares of Lloyds Banking Group in a research report on Thursday, May 9th. They set a “buy” rating on the stock. Berenberg Bank began coverage on shares of Lloyds Banking Group in a research report on Thursday, April 25th. They set a “hold” rating and a $2.75 price objective on the stock. Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 26th. Finally, BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Lloyds Banking Group presently has an average rating of “Hold” and an average price target of $32.38.

Lloyds Banking Group Price Performance

Shares of NYSE:LYG traded down $0.11 on Monday, reaching $2.74. The company’s stock had a trading volume of 19,914,932 shares, compared to its average volume of 9,385,173. Lloyds Banking Group plc has a 52-week low of $1.88 and a 52-week high of $3.13. The company has a market cap of $42.82 billion, a P/E ratio of 7.21 and a beta of 1.35. The company has a 50-day simple moving average of $2.87 and a 200 day simple moving average of $2.59. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.48 and a current ratio of 1.45.

Lloyds Banking Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 5th will be paid a dividend of $0.0546 per share. The ex-dividend date is Monday, August 5th. This is a boost from Lloyds Banking Group’s previous semi-annual dividend of $0.05. This represents a dividend yield of 4.4%. Lloyds Banking Group’s payout ratio is currently 26.32%.

Lloyds Banking Group Company Profile

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.