Smartleaf Asset Management LLC Raises Stake in Lloyds Banking Group plc (NYSE:LYG)

Smartleaf Asset Management LLC raised its position in Lloyds Banking Group plc (NYSE:LYG) by 34.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,761 shares of the financial services provider’s stock after purchasing an additional 20,790 shares during the period. Smartleaf Asset Management LLC’s holdings in Lloyds Banking Group were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LYG. JPMorgan Chase & Co. raised its stake in Lloyds Banking Group by 58.5% in the third quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider’s stock valued at $20,778,000 after buying an additional 2,456,914 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Lloyds Banking Group in the 3rd quarter valued at about $1,035,000. US Bancorp DE lifted its stake in Lloyds Banking Group by 36.6% during the third quarter. US Bancorp DE now owns 757,336 shares of the financial services provider’s stock worth $2,363,000 after purchasing an additional 202,862 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Lloyds Banking Group by 20.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,055,584 shares of the financial services provider’s stock valued at $3,293,000 after purchasing an additional 180,178 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Lloyds Banking Group by 58.3% in the third quarter. Citigroup Inc. now owns 1,703,943 shares of the financial services provider’s stock valued at $5,316,000 after purchasing an additional 627,592 shares during the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Lloyds Banking Group Stock Up 2.0 %

LYG opened at $3.90 on Thursday. The firm has a market cap of $59.16 billion, a price-to-earnings ratio of 11.80 and a beta of 1.31. Lloyds Banking Group plc has a 52 week low of $2.42 and a 52 week high of $3.91. The business’s 50 day moving average is $3.07 and its two-hundred day moving average is $2.98.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Equities analysts expect that Lloyds Banking Group plc will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, May 30th. Investors of record on Friday, April 11th will be issued a dividend of $0.1035 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a dividend yield of 4%. This is a positive change from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 60.61%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded shares of Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.75.

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.