Lazari Capital Management Inc. Purchases 3,371 Shares of Lloyds Banking Group plc (NYSE:LYG)

Lazari Capital Management Inc. increased its holdings in Lloyds Banking Group plc (NYSE:LYG) by 19.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 20,391 shares of the financial services provider’s stock after buying an additional 3,371 shares during the period. Lazari Capital Management Inc.’s holdings in Lloyds Banking Group were worth $64,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Transcend Capital Advisors LLC bought a new position in shares of Lloyds Banking Group in the 2nd quarter valued at about $28,000. Interchange Capital Partners LLC bought a new position in shares of Lloyds Banking Group during the second quarter valued at approximately $28,000. Intergy Private Wealth LLC purchased a new stake in shares of Lloyds Banking Group in the second quarter worth approximately $29,000. Susquehanna International Securities Ltd. bought a new stake in shares of Lloyds Banking Group during the 1st quarter worth approximately $30,000. Finally, Tcwp LLC bought a new position in Lloyds Banking Group in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Stock Performance

Shares of LYG stock opened at $3.22 on Wednesday. The company’s 50 day moving average is $3.07 and its 200 day moving average is $2.88. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.89. The firm has a market cap of $50.25 billion, a price-to-earnings ratio of 8.46 and a beta of 1.34. Lloyds Banking Group plc has a 52-week low of $1.88 and a 52-week high of $3.22.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.09 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 10.34% and a net margin of 12.40%. The firm had revenue of $9.55 billion during the quarter. On average, sell-side analysts anticipate that Lloyds Banking Group plc will post 0.32 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, September 20th. Stockholders of record on Monday, August 5th were given a $0.0546 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a dividend yield of 4.4%. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s payout ratio is presently 26.32%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LYG. Kepler Capital Markets initiated coverage on Lloyds Banking Group in a research report on Thursday, September 5th. They set a “hold” rating for the company. The Goldman Sachs Group assumed coverage on shares of Lloyds Banking Group in a research report on Friday, October 4th. They issued a “neutral” rating for the company. Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 26th. UBS Group reiterated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Finally, BNP Paribas upgraded Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 5th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.75.

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.