Royal Palms Capital LLC Purchases 96,500 Shares of Lloyds Banking Group PLC $LYG

Royal Palms Capital LLC raised its position in shares of Lloyds Banking Group PLC (NYSE:LYG) by 25.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 471,161 shares of the financial services provider’s stock after acquiring an additional 96,500 shares during the quarter. Lloyds Banking Group comprises 2.4% of Royal Palms Capital LLC’s investment portfolio, making the stock its 24th biggest holding. Royal Palms Capital LLC’s holdings in Lloyds Banking Group were worth $2,653,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. WCM Investment Management LLC acquired a new position in shares of Lloyds Banking Group during the first quarter valued at about $128,228,000. Envestnet Asset Management Inc. increased its position in shares of Lloyds Banking Group by 2.9% during the second quarter. Envestnet Asset Management Inc. now owns 12,564,633 shares of the financial services provider’s stock worth $73,250,000 after acquiring an additional 351,626 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Lloyds Banking Group by 2.9% in the 2nd quarter. Bank of America Corp DE now owns 8,005,022 shares of the financial services provider’s stock worth $46,669,000 after acquiring an additional 222,310 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Lloyds Banking Group by 12.7% in the 1st quarter. Assetmark Inc. now owns 3,849,993 shares of the financial services provider’s stock worth $19,365,000 after acquiring an additional 433,849 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Lloyds Banking Group by 2,413.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,113,464 shares of the financial services provider’s stock valued at $15,661,000 after acquiring an additional 2,989,604 shares in the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Lloyds Banking Group Price Performance

Shares of NYSE:LYG opened at $5.33 on Monday. The company has a market capitalization of $76.82 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 0.56 and a beta of 0.91. The company’s 50-day moving average is $5.76 and its 200 day moving average is $5.70. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.56 and a current ratio of 1.52. Lloyds Banking Group PLC has a fifty-two week low of $4.51 and a fifty-two week high of $6.34.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%. The company had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.86 billion. On average, equities research analysts forecast that Lloyds Banking Group PLC will post 0.54 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, September 25th. Shareholders of record on Monday, August 10th were paid a $0.0840 dividend. The ex-dividend date was Monday, August 10th. This is a negative change from Lloyds Banking Group’s previous dividend of $0.1340. This represents a yield of 273.0%. Lloyds Banking Group’s dividend payout ratio is presently 39.53%.

Analysts Set New Price Targets

Several analysts have recently commented on LYG shares. Keefe, Bruyette & Woods downgraded Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a research note on Friday, July 17th. Citigroup reaffirmed a “buy” rating on shares of Lloyds Banking Group in a research report on Thursday, July 16th. Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Tuesday, September 1st. Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a report on Wednesday, September 2nd. Finally, Royal Bank Of Canada lowered Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 16th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.00.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a UK-based financial services group whose American depositary shares trade on the New York Stock Exchange under the symbol LYG. The group provides banking, lending, insurance, pensions and investment services to individuals, businesses and institutional customers.

Its principal brands include Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Products and services include current and savings accounts, residential mortgages, personal and business loans, credit cards, commercial banking, asset finance, life insurance, pensions and investment solutions.

Lloyds Banking Group was formed in 2009 through the acquisition of HBOS by Lloyds TSB.