Summit Financial LLC Invests $79,000 in Lloyds Banking Group plc (NYSE:LYG)

Summit Financial LLC bought a new stake in shares of Lloyds Banking Group plc (NYSE:LYG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,010 shares of the financial services provider’s stock, valued at approximately $79,000.

Other large investors have also added to or reduced their stakes in the company. Brentview Investment Management LLC bought a new position in shares of Lloyds Banking Group during the 4th quarter worth approximately $31,000. Mesirow Financial Investment Management Inc. bought a new position in Lloyds Banking Group during the fourth quarter worth $32,000. SBI Securities Co. Ltd. acquired a new stake in Lloyds Banking Group in the fourth quarter worth $34,000. Jackson Thornton Wealth Management LLC bought a new stake in Lloyds Banking Group in the fourth quarter valued at $34,000. Finally, Simon Quick Advisors LLC acquired a new position in shares of Lloyds Banking Group during the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Stock Down 7.8 %

Lloyds Banking Group stock opened at $3.39 on Friday. Lloyds Banking Group plc has a 52 week low of $2.42 and a 52 week high of $3.91. The company’s 50 day moving average price is $3.49 and its two-hundred day moving average price is $3.08. The stock has a market cap of $51.42 billion, a P/E ratio of 10.26 and a beta of 1.25.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. On average, equities analysts anticipate that Lloyds Banking Group plc will post 0.27 EPS for the current year.

Lloyds Banking Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, April 11th will be paid a $0.1035 dividend. This represents a yield of 4%. This is a boost from Lloyds Banking Group’s previous semi-annual dividend of $0.05. The ex-dividend date is Friday, April 11th. Lloyds Banking Group’s payout ratio is presently 60.61%.

Analyst Ratings Changes

A number of research analysts recently weighed in on LYG shares. Keefe, Bruyette & Woods downgraded Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Hsbc Global Res raised Lloyds Banking Group to a “strong-buy” rating in a research report on Thursday, March 20th. HSBC raised shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley upgraded shares of Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.