Clearbridge Investments LLC Has $59.17 Million Position in Lloyds Banking Group plc (NYSE:LYG)

Clearbridge Investments LLC lowered its position in shares of Lloyds Banking Group plc (NYSE:LYG) by 15.9% in the fourth quarter, HoldingsChannel reports. The firm owned 21,754,568 shares of the financial services provider’s stock after selling 4,103,335 shares during the period. Clearbridge Investments LLC’s holdings in Lloyds Banking Group were worth $59,172,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LYG. Brentview Investment Management LLC bought a new position in Lloyds Banking Group in the 4th quarter worth approximately $31,000. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Lloyds Banking Group in the 4th quarter valued at approximately $32,000. SBI Securities Co. Ltd. bought a new position in Lloyds Banking Group during the 4th quarter worth approximately $34,000. Jackson Thornton Wealth Management LLC acquired a new position in Lloyds Banking Group during the fourth quarter valued at approximately $34,000. Finally, Simon Quick Advisors LLC bought a new stake in Lloyds Banking Group in the fourth quarter valued at approximately $35,000. Institutional investors own 2.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LYG shares. Keefe, Bruyette & Woods cut shares of Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Hsbc Global Res raised Lloyds Banking Group to a “strong-buy” rating in a research note on Thursday, March 20th. Finally, Morgan Stanley raised Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lloyds Banking Group presently has a consensus rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Trading Down 0.4 %

LYG stock opened at $3.83 on Tuesday. The stock has a market cap of $58.10 billion, a PE ratio of 11.59 and a beta of 1.25. The stock has a 50-day moving average price of $3.44 and a two-hundred day moving average price of $3.07. Lloyds Banking Group plc has a 1 year low of $2.42 and a 1 year high of $3.91.

Lloyds Banking Group (NYSE:LYG) last announced its earnings results on Thursday, February 20th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $4.76 billion. Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. On average, analysts forecast that Lloyds Banking Group plc will post 0.27 earnings per share 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. Stockholders of record on Friday, April 11th will be given a $0.1035 dividend. This represents a dividend yield of 4%. The ex-dividend date is Friday, April 11th. 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%.

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.