Lloyds Banking Group plc (NYSE:LYG) Receives $99.00 Consensus Target Price from Brokerages

Shares of Lloyds Banking Group plc (NYSE:LYG) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $79.75.

LYG has been the subject of several research analyst reports. Berenberg Bank initiated coverage on Lloyds Banking Group in a research note on Thursday. They set a “hold” rating and a $2.75 target price for the company. Bank of America raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, March 21st.

Lloyds Banking Group Stock Up 3.6 %

LYG opened at $2.61 on Thursday. The company has a market cap of $41.57 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 1.06 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.48 and a current ratio of 1.48. Lloyds Banking Group has a 1 year low of $1.88 and a 1 year high of $2.72. The firm has a 50 day moving average price of $2.48 and a 200 day moving average price of $2.28.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.11 EPS for the quarter. The firm had revenue of $19.05 billion for the quarter. Lloyds Banking Group had a return on equity of 10.35% and a net margin of 13.41%. Sell-side analysts expect that Lloyds Banking Group will post 0.32 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LYG. CIBC Private Wealth Group LLC raised its stake in Lloyds Banking Group by 149.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 29,696,591 shares of the financial services provider’s stock valued at $70,975,000 after acquiring an additional 17,814,615 shares in the last quarter. Mondrian Investment Partners LTD grew its holdings in Lloyds Banking Group by 8.7% during the third quarter. Mondrian Investment Partners LTD now owns 29,131,456 shares of the financial services provider’s stock worth $62,050,000 after acquiring an additional 2,336,000 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Lloyds Banking Group by 5.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 22,166,362 shares of the financial services provider’s stock valued at $52,978,000 after purchasing an additional 1,180,775 shares in the last quarter. Morningstar Investment Services LLC lifted its stake in Lloyds Banking Group by 96.9% during the fourth quarter. Morningstar Investment Services LLC now owns 21,147,627 shares of the financial services provider’s stock valued at $50,966,000 after purchasing an additional 10,406,673 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Lloyds Banking Group by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,625,679 shares of the financial services provider’s stock valued at $44,528,000 after acquiring an additional 439,009 shares during the last quarter. Institutional investors own 2.15% of the company’s stock.

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.