Renaissance Technologies LLC Has $12.72 Million Position in Lloyds Banking Group PLC $LYG

Renaissance Technologies LLC grew its position in Lloyds Banking Group PLC (NYSE:LYG) by 386.4% during the 1st quarter, HoldingsChannel reports. The firm owned 2,528,180 shares of the financial services provider’s stock after purchasing an additional 2,008,380 shares during the quarter. Renaissance Technologies LLC’s holdings in Lloyds Banking Group were worth $12,717,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WCM Investment Management LLC acquired a new position in shares of Lloyds Banking Group in the 1st quarter valued at $128,228,000. Janney Montgomery Scott LLC raised its stake in Lloyds Banking Group by 2,413.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,113,464 shares of the financial services provider’s stock worth $15,661,000 after buying an additional 2,989,604 shares during the period. UBS Group AG lifted its holdings in Lloyds Banking Group by 53.9% during the third quarter. UBS Group AG now owns 6,614,695 shares of the financial services provider’s stock worth $30,031,000 after acquiring an additional 2,317,927 shares in the last quarter. Jane Street Group LLC grew its stake in Lloyds Banking Group by 178.3% in the second quarter. Jane Street Group LLC now owns 2,261,115 shares of the financial services provider’s stock valued at $9,610,000 after acquiring an additional 1,448,691 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Lloyds Banking Group by 17.4% in the third quarter. Millennium Management LLC now owns 8,815,679 shares of the financial services provider’s stock worth $40,023,000 after acquiring an additional 1,309,359 shares in the last quarter. 2.15% of the stock is owned by institutional investors.

Key Headlines Impacting Lloyds Banking Group

Here are the key news stories impacting Lloyds Banking Group this week:

• Positive Sentiment: Lloyds reported first-half statutory pretax profit of £4.3 billion, up 23% from £3.5 billion a year earlier, exceeding expectations. Management also launched a new strategy focused on improving returns through 2030. Lloyds reports first-half profit up 23%, outlines new strategy
• Positive Sentiment: The bank announced a £1 billion share buyback and raised its dividend by 30% to 1.58 pence per share. The U.S.-listed dividend announcement lists a payment of $0.084 per share for investors of record on August 10, with payment scheduled for September 25. Lloyds hikes dividend and launches share buyback
• Positive Sentiment: Analysts viewed Lloyds’ new targets as potentially conservative. Citi maintained a “buy” rating, citing upside from the bank’s planned consumer ecosystem spanning housing, cars, wealth and insurance. Lloyds targets look conservative
• Positive Sentiment: Lloyds plans to use approximately 800 artificial-intelligence models to reduce costs and support its targets of more than 18% return on tangible equity in 2028 and about 20% in 2030. Lloyds mobilizes AI models to reduce costs
• Neutral Sentiment: The results showed a 25.11% net margin and 10.63% return on equity, while management outlined a multi-year plan centered on growth, efficiency and stronger capital returns. Execution against these targets will be important for future valuation.
• Negative Sentiment: Quarterly EPS was $0.13, below the $0.14 consensus estimate, while revenue of $6.57 billion missed expectations of $6.86 billion. The earnings shortfall may be prompting profit-taking after a strong recent rally. Lloyds quarterly earnings results

Lloyds Banking Group Stock Performance

LYG opened at $6.17 on Friday. The company has a market capitalization of $89.81 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 0.62 and a beta of 0.87. The business’s 50-day moving average price is $5.75 and its two-hundred day moving average price is $5.55. Lloyds Banking Group PLC has a 1 year low of $4.05 and a 1 year high of $6.34. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.56 and a quick ratio of 0.56.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.86 billion. Lloyds Banking Group had a return on equity of 10.95% and a net margin of 24.97%. Equities analysts expect that Lloyds Banking Group PLC will post 0.53 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, September 25th. Shareholders of record on Monday, August 10th will be given a dividend of $0.084 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a yield of 272.0%. Lloyds Banking Group’s dividend payout ratio is 58.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LYG shares. Keefe, Bruyette & Woods lowered Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a research report on Friday, July 17th. Weiss Ratings lowered Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. UBS Group raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, April 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Lloyds Banking Group in a research note on Tuesday, June 30th. Finally, Berenberg Bank started coverage on shares of Lloyds Banking Group in a report on Wednesday, June 24th. They issued a “hold” rating for the company. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

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.