Rehmann Capital Advisory Group Raises Position in Lloyds Banking Group plc (NYSE:LYG)

Rehmann Capital Advisory Group grew its holdings in shares of Lloyds Banking Group plc (NYSE:LYGGet Rating) by 84.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,594 shares of the financial services provider’s stock after purchasing an additional 9,875 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Lloyds Banking Group were worth $52,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in shares of Lloyds Banking Group by 5.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 1,024,051 shares of the financial services provider’s stock worth $2,467,000 after purchasing an additional 51,154 shares during the period. Freestone Capital Holdings LLC increased its holdings in shares of Lloyds Banking Group by 310.2% during the 1st quarter. Freestone Capital Holdings LLC now owns 164,360 shares of the financial services provider’s stock worth $396,000 after buying an additional 124,290 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Lloyds Banking Group by 8.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 319,152 shares of the financial services provider’s stock worth $814,000 after buying an additional 23,606 shares during the last quarter. Capital Asset Advisory Services LLC acquired a new stake in shares of Lloyds Banking Group during the 1st quarter worth $742,000. Finally, Keel Point LLC increased its holdings in shares of Lloyds Banking Group by 56.3% during the 1st quarter. Keel Point LLC now owns 24,620 shares of the financial services provider’s stock worth $59,000 after buying an additional 8,869 shares during the last quarter. Hedge funds and other institutional investors own 1.98% of the company’s stock.

Lloyds Banking Group Price Performance

Shares of Lloyds Banking Group stock opened at $2.16 on Friday. The business has a 50-day moving average of $2.10 and a 200-day moving average of $2.20. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $36.98 billion, a PE ratio of 6.75, a P/E/G ratio of 0.20 and a beta of 1.28. Lloyds Banking Group plc has a 1-year low of $1.90 and a 1-year high of $3.00.

Lloyds Banking Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Monday, August 8th will be paid a dividend of $0.0385 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a dividend yield of 4.7%. Lloyds Banking Group’s dividend payout ratio is presently 21.88%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LYG shares. Barclays upped their price objective on Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a report on Friday, July 29th. Berenberg Bank increased their price target on Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a report on Friday, July 29th. Royal Bank of Canada increased their price target on Lloyds Banking Group from GBX 42 ($0.51) to GBX 45 ($0.54) in a report on Thursday, July 28th. Credit Suisse Group increased their price target on Lloyds Banking Group from GBX 71 ($0.86) to GBX 72 ($0.87) in a report on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Lloyds Banking Group from GBX 61 ($0.74) to GBX 64 ($0.77) in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Lloyds Banking Group currently has an average rating of “Moderate Buy” and a consensus target price of $59.43.

Lloyds Banking Group Company Profile

(Get Rating)

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom. It operates through three segments: Retail; Commercial Banking; and Insurance and Wealth. 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 and small business customers.

Further Reading

Want to see what other hedge funds are holding LYG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lloyds Banking Group plc (NYSE:LYGGet Rating).

Institutional Ownership by Quarter for Lloyds Banking Group (NYSE:LYG)

Receive News & Ratings for Lloyds Banking Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lloyds Banking Group and related companies with MarketBeat.com's FREE daily email newsletter.