First Eagle Investment Management LLC Decreases Holdings in Lloyds Banking Group PLC $LYG

First Eagle Investment Management LLC reduced its stake in shares of Lloyds Banking Group PLC (NYSE:LYG) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,328,253 shares of the financial services provider’s stock after selling 487,908 shares during the quarter. First Eagle Investment Management LLC’s holdings in Lloyds Banking Group were worth $28,730,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Royal Bank of Canada increased its position in shares of Lloyds Banking Group by 10.6% during the 1st quarter. Royal Bank of Canada now owns 1,126,734 shares of the financial services provider’s stock valued at $4,305,000 after purchasing an additional 108,100 shares during the last quarter. AQR Capital Management LLC boosted its stake in Lloyds Banking Group by 124.1% during the first quarter. AQR Capital Management LLC now owns 263,246 shares of the financial services provider’s stock worth $1,006,000 after buying an additional 145,772 shares during the period. Jane Street Group LLC increased its position in Lloyds Banking Group by 18.4% during the first quarter. Jane Street Group LLC now owns 812,424 shares of the financial services provider’s stock valued at $3,103,000 after acquiring an additional 126,247 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Lloyds Banking Group by 162.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 11,724 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 7,253 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Lloyds Banking Group during the 1st quarter valued at about $639,000. 2.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on LYG shares. Citigroup reissued a “neutral” rating on shares of Lloyds Banking Group in a research note on Monday, December 1st. Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a report on Monday, November 24th. BNP Paribas Exane downgraded Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Lloyds Banking Group in a research report on Tuesday, February 3rd. Finally, Weiss Ratings raised shares of Lloyds Banking Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Stock Down 1.5%

Shares of Lloyds Banking Group stock opened at $5.47 on Tuesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market cap of $80.52 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 0.56 and a beta of 0.86. The firm’s 50-day moving average is $5.62 and its two-hundred day moving average is $5.01. Lloyds Banking Group PLC has a 1 year low of $3.27 and a 1 year high of $6.34.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.52 billion. Lloyds Banking Group had a net margin of 24.30% and a return on equity of 10.06%. As a group, research analysts expect that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 29th. Investors of record on Friday, April 10th will be paid a dividend of $0.134 per share. This represents a dividend yield of 447.0%. The ex-dividend date is Friday, April 10th. Lloyds Banking Group’s dividend payout ratio is 30.95%.

Lloyds Banking Group Profile

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.