Lloyds Banking Group plc (NYSE:LYG) Holdings Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of Lloyds Banking Group plc (NYSE:LYG - Free Report) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,126,422 shares of the financial services provider's stock after acquiring an additional 70,838 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Lloyds Banking Group were worth $3,064,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Lloyds Banking Group by 58.5% during the third quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider's stock valued at $20,778,000 after buying an additional 2,456,914 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Lloyds Banking Group in the 3rd quarter valued at approximately $1,035,000. Citigroup Inc. raised its stake in Lloyds Banking Group by 58.3% during the 3rd quarter. Citigroup Inc. now owns 1,703,943 shares of the financial services provider's stock valued at $5,316,000 after acquiring an additional 627,592 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Lloyds Banking Group by 15.9% in the fourth quarter. Park Avenue Securities LLC now owns 288,877 shares of the financial services provider's stock worth $786,000 after purchasing an additional 39,685 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Lloyds Banking Group by 21.0% in the fourth quarter. QRG Capital Management Inc. now owns 2,372,753 shares of the financial services provider's stock worth $6,454,000 after purchasing an additional 411,616 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

LYG has been the subject of several research analyst reports. Morgan Stanley raised shares of Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. Finally, Hsbc Global Res upgraded Lloyds Banking Group to a "strong-buy" rating in a research report on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Lloyds Banking Group has a consensus rating of "Hold" and an average price target of $2.75.

Lloyds Banking Group Trading Down 0.4 %

LYG stock traded down $0.02 on Monday, hitting $3.83. 23,950,959 shares of the company's stock traded hands, compared to its average volume of 14,202,877. The stock has a market cap of $58.10 billion, a price-to-earnings ratio of 11.59 and a beta of 1.25. Lloyds Banking Group plc has a 1-year low of $2.42 and a 1-year high of $3.91. The stock has a fifty day moving average of $3.44 and a 200-day moving average of $3.07.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released 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 company had revenue of $9.46 billion for the quarter, compared to the consensus estimate 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 research analysts anticipate that Lloyds Banking Group plc will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Increases Dividend

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

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 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.