Lloyds Banking Group (NYSE:LYG) Sees Strong Trading Volume – Here’s Why

Shares of Lloyds Banking Group plc (NYSE:LYG) saw an uptick in trading volume on Tuesday . 29,735,002 shares traded hands during mid-day trading, an increase of 123% from the previous session’s volume of 13,338,895 shares.The stock last traded at $3.53 and had previously closed at $3.65.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LYG. Keefe, Bruyette & Woods cut Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Morgan Stanley upgraded shares of Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lloyds Banking Group presently has an average rating of “Hold” and an average price target of $2.75.

Lloyds Banking Group Trading Down 1.5 %

The firm has a market cap of $54.30 billion, a P/E ratio of 10.83 and a beta of 1.25. The company’s fifty day moving average price is $3.16 and its two-hundred day moving average price is $3.00.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $4.76 billion. On average, analysts predict that Lloyds Banking Group plc will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, April 11th will be paid a $0.1035 dividend. The ex-dividend date is Friday, April 11th. This represents a yield of 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 60.61%.

Institutional Trading of Lloyds Banking Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Apollon Wealth Management LLC lifted its stake in shares of Lloyds Banking Group by 2.8% during the fourth quarter. Apollon Wealth Management LLC now owns 122,641 shares of the financial services provider’s stock valued at $334,000 after acquiring an additional 3,346 shares during the period. Independent Advisor Alliance boosted its stake in shares of Lloyds Banking Group by 4.8% in the 4th quarter. Independent Advisor Alliance now owns 75,049 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 3,420 shares during the last quarter. Rehmann Capital Advisory Group grew its position in shares of Lloyds Banking Group by 9.9% during the 4th quarter. Rehmann Capital Advisory Group now owns 38,339 shares of the financial services provider’s stock worth $104,000 after buying an additional 3,451 shares during the period. OneDigital Investment Advisors LLC raised its stake in shares of Lloyds Banking Group by 3.5% during the fourth quarter. OneDigital Investment Advisors LLC now owns 109,799 shares of the financial services provider’s stock worth $299,000 after buying an additional 3,728 shares during the last quarter. Finally, Brio Consultants LLC lifted its holdings in Lloyds Banking Group by 30.2% in the fourth quarter. Brio Consultants LLC now owns 16,735 shares of the financial services provider’s stock valued at $46,000 after buying an additional 3,880 shares during the period. 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.