Lloyds Banking Group plc (NYSE:LYG) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC reduced its position in shares of Lloyds Banking Group plc (NYSE:LYG) by 73.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,801 shares of the financial services provider’s stock after selling 63,521 shares during the period. Tower Research Capital LLC TRC’s holdings in Lloyds Banking Group were worth $54,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LYG. CIBC Private Wealth Group LLC grew 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 purchasing an additional 17,814,615 shares in the last quarter. Mondrian Investment Partners LTD increased its stake in shares of Lloyds Banking Group by 8.7% in 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 buying an additional 2,336,000 shares during the last quarter. Natixis Advisors L.P. raised its holdings in Lloyds Banking Group by 34.8% in the fourth quarter. Natixis Advisors L.P. now owns 7,122,268 shares of the financial services provider’s stock valued at $17,021,000 after acquiring an additional 1,840,413 shares in the last quarter. Meritage Portfolio Management bought a new position in Lloyds Banking Group during the 4th quarter valued at $3,470,000. Finally, QRG Capital Management Inc. acquired a new position in Lloyds Banking Group during the 3rd quarter worth $1,807,000. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LYG has been the topic of a number of research analyst reports. Berenberg Bank assumed coverage on Lloyds Banking Group in a report on Thursday. They set a “hold” rating and a $2.75 target price on the stock. Bank of America raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, March 21st. One equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $55.39.

Lloyds Banking Group Stock Performance

LYG traded down $0.04 during trading on Monday, reaching $2.57. 7,071,067 shares of the company were exchanged, compared to its average volume of 9,215,483. Lloyds Banking Group plc has a 52 week low of $1.88 and a 52 week high of $2.72. 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 firm has a 50 day moving average of $2.49 and a 200 day moving average of $2.28. The stock has a market cap of $40.86 billion, a P/E ratio of 6.75, a PEG ratio of 1.10 and a beta of 1.32.

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 business had revenue of $19.05 billion during the quarter. Lloyds Banking Group had a net margin of 13.41% and a return on equity of 10.35%. On average, sell-side analysts forecast that Lloyds Banking Group plc will post 0.32 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, April 12th will be issued 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 (DPR) is presently 47.37%.

Lloyds Banking Group 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.