Foundations Investment Advisors LLC Increases Stock Position in Lloyds Banking Group plc (NYSE:LYG)

Foundations Investment Advisors LLC boosted its stake in Lloyds Banking Group plc (NYSE:LYGGet Rating) by 42.1% during the 2nd quarter, Holdings Channel reports. The firm owned 87,457 shares of the financial services provider’s stock after buying an additional 25,890 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Lloyds Banking Group were worth $173,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LYG. Dimensional Fund Advisors LP lifted its stake in Lloyds Banking Group by 17.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,926,528 shares of the financial services provider’s stock worth $20,211,000 after purchasing an additional 1,184,602 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new stake in Lloyds Banking Group in the 4th quarter worth $405,000. HighTower Advisors LLC raised its position in shares of Lloyds Banking Group by 4.8% during the 4th quarter. HighTower Advisors LLC now owns 329,135 shares of the financial services provider’s stock valued at $839,000 after buying an additional 15,150 shares in the last quarter. Citigroup Inc. raised its position in shares of Lloyds Banking Group by 58.7% during the 4th quarter. Citigroup Inc. now owns 827,676 shares of the financial services provider’s stock valued at $2,111,000 after buying an additional 306,158 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Lloyds Banking Group by 1.7% during the 4th quarter. Bank of Montreal Can now owns 2,835,721 shares of the financial services provider’s stock valued at $7,231,000 after buying an additional 48,569 shares in the last quarter. Hedge funds and other institutional investors own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

LYG has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of Lloyds Banking Group from GBX 61 ($0.74) to GBX 64 ($0.77) in a research report on Tuesday, September 6th. Berenberg Bank upped their target price on shares of Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a research report on Friday, July 29th. Royal Bank of Canada upped their target price on shares of Lloyds Banking Group from GBX 42 ($0.51) to GBX 45 ($0.54) in a research report on Thursday, July 28th. Credit Suisse Group upped their price target on shares of Lloyds Banking Group from GBX 71 ($0.86) to GBX 72 ($0.87) in a report on Thursday, July 28th. Finally, Barclays upped their target price on shares of Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Lloyds Banking Group has an average rating of “Moderate Buy” and an average price target of $59.43.

Lloyds Banking Group Price Performance

NYSE:LYG opened at $2.16 on Monday. The firm has a market capitalization of $36.98 billion, a P/E ratio of 6.75, a PEG 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. The company’s fifty day moving average price is $2.10 and its 200-day moving average price is $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.

Lloyds Banking Group Cuts Dividend

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

About Lloyds Banking Group

(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

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

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