Lloyds Banking Group plc (NYSE:LYG) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 820,400 shares, a decline of 26.8% from the March 31st total of 1,120,000 shares. Based on an average trading volume of 5,900,000 shares, the short-interest ratio is currently 0.1 days.
Several research firms have issued reports on LYG. The Goldman Sachs Group upgraded Lloyds Banking Group from a “sell” rating to a “neutral” rating in a research report on Sunday, February 7th. Societe Generale reiterated a “buy” rating on shares of Lloyds Banking Group in a research report on Friday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating on shares of Lloyds Banking Group in a research report on Tuesday, March 2nd. Berenberg Bank reiterated a “hold” rating on shares of Lloyds Banking Group in a research report on Friday. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a research report on Tuesday, April 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $2.75.
Shares of LYG traded down $0.03 on Tuesday, reaching $2.49. The stock had a trading volume of 5,573,864 shares, compared to its average volume of 6,010,422. The firm has a market capitalization of $44.16 billion, a PE ratio of 4.75 and a beta of 1.45. The firm has a 50-day moving average of $2.34 and a 200 day moving average of $1.99. Lloyds Banking Group has a twelve month low of $1.17 and a twelve month high of $2.53.
The company also recently declared a semi-annual dividend, which will be paid on Friday, June 4th. Investors of record on Friday, April 16th will be issued a $0.0318 dividend. This represents a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, April 15th. Lloyds Banking Group’s dividend payout ratio is currently 5.66%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Radnor Capital Management LLC grew its holdings in shares of Lloyds Banking Group by 36.0% in the 1st quarter. Radnor Capital Management LLC now owns 17,000 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 4,500 shares during the period. BBR Partners LLC lifted its stake in Lloyds Banking Group by 23.5% in the 4th quarter. BBR Partners LLC now owns 27,213 shares of the financial services provider’s stock valued at $53,000 after buying an additional 5,181 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Lloyds Banking Group by 23.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 32,610 shares of the financial services provider’s stock valued at $64,000 after buying an additional 6,090 shares in the last quarter. Cresset Asset Management LLC lifted its stake in Lloyds Banking Group by 10.5% in the 4th quarter. Cresset Asset Management LLC now owns 76,011 shares of the financial services provider’s stock valued at $149,000 after buying an additional 7,229 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its stake in Lloyds Banking Group by 11.7% in the 1st quarter. Stratos Wealth Advisors LLC now owns 71,500 shares of the financial services provider’s stock valued at $166,000 after buying an additional 7,500 shares in the last quarter. Institutional investors and hedge funds own 1.30% of the company’s stock.
About Lloyds Banking Group
Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates through three segments: Retail; Commercial Banking; and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, unsecured loans, leasing solutions, credit cards, and other financial services to personal and small business customers.
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