First Trust Direct Indexing L.P. Grows Stock Holdings in Lloyds Banking Group plc (NYSE:LYG)

First Trust Direct Indexing L.P. raised its stake in shares of Lloyds Banking Group plc (NYSE:LYG) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 309,779 shares of the financial services provider’s stock after acquiring an additional 12,334 shares during the period. First Trust Direct Indexing L.P.’s holdings in Lloyds Banking Group were worth $740,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LYG. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Lloyds Banking Group by 19.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 122,640 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 19,858 shares during the period. Raymond James & Associates lifted its stake in shares of Lloyds Banking Group by 0.7% in the 3rd quarter. Raymond James & Associates now owns 1,972,113 shares of the financial services provider’s stock worth $4,201,000 after acquiring an additional 12,851 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Lloyds Banking Group by 23.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 707,999 shares of the financial services provider’s stock valued at $1,508,000 after acquiring an additional 134,075 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Lloyds Banking Group by 74.2% during the third quarter. Stratos Wealth Partners LTD. now owns 23,333 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 9,942 shares during the period. Finally, Independent Advisor Alliance raised its holdings in Lloyds Banking Group by 25.8% during the third quarter. Independent Advisor Alliance now owns 89,453 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 18,320 shares in the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group Stock Performance

Shares of LYG opened at $2.60 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.82. The stock has a market cap of $41.42 billion, a P/E ratio of 6.84, a PEG ratio of 1.09 and a beta of 1.29. The company has a 50-day moving average of $2.52 and a two-hundred day moving average of $2.29. Lloyds Banking Group plc has a 12-month low of $1.88 and a 12-month high of $2.72.

Lloyds Banking Group (NYSE:LYG) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $14.35 billion during the quarter. Lloyds Banking Group had a net margin of 13.41% and a return on equity of 10.35%. As a group, research analysts predict that Lloyds Banking Group plc will post 0.32 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, April 12th will be given a $0.046 dividend. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend is Thursday, April 11th. Lloyds Banking Group’s dividend payout ratio is presently 47.37%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LYG shares. Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, March 21st. Berenberg Bank initiated coverage on Lloyds Banking Group in a report on Thursday, April 25th. They set a “hold” rating and a $2.75 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $52.55.

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.