PFG Investments LLC Acquires Shares of 11,294 Lloyds Banking Group plc (NYSE:LYG)

PFG Investments LLC acquired a new position in shares of Lloyds Banking Group plc (NYSE:LYG) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 11,294 shares of the financial services provider’s stock, valued at approximately $29,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCG Advisory Services LLC acquired a new position in shares of Lloyds Banking Group during the 4th quarter worth about $25,000. Naples Money Management LLC purchased a new position in Lloyds Banking Group in the fourth quarter valued at approximately $25,000. Atria Wealth Solutions Inc. acquired a new stake in Lloyds Banking Group during the fourth quarter worth approximately $26,000. D Orazio & Associates Inc. purchased a new stake in shares of Lloyds Banking Group during the 4th quarter worth approximately $26,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Lloyds Banking Group by 234.3% in the 4th quarter. Russell Investments Group Ltd. now owns 11,105 shares of the financial services provider’s stock valued at $27,000 after buying an additional 7,783 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on LYG shares. Berenberg Bank assumed coverage on shares of Lloyds Banking Group in a research note on Thursday, April 25th. They issued a “hold” rating and a $2.75 price objective for the company. Bank of America raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Lloyds Banking Group currently has a consensus rating of “Hold” and a consensus target price of $55.39.

Lloyds Banking Group Stock Performance

Shares of NYSE LYG traded up $0.02 during midday trading on Friday, reaching $2.60. 9,056,768 shares of the company were exchanged, compared to its average volume of 10,375,481. The stock has a market cap of $41.42 billion, a P/E ratio of 6.84, a PEG ratio of 1.08 and a beta of 1.29. Lloyds Banking Group plc has a 1 year low of $1.88 and a 1 year high of $2.72. The stock has a fifty day simple moving average of $2.52 and a 200 day simple moving average of $2.29. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.82.

Lloyds Banking Group (NYSE:LYG) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.09 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 10.35% and a net margin of 13.41%. The company had revenue of $14.35 billion for the quarter. On average, research analysts forecast that Lloyds Banking Group plc will post 0.32 earnings per share 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. Shareholders 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 yield of 5.9%. Lloyds Banking Group’s payout ratio is currently 47.37%.

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.