Lloyds Banking Group (NYSE:LYG) Sets New 1-Year High - Time to Buy?

Lloyds Banking Group plc (NYSE:LYG - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $3.81 and last traded at $3.67, with a volume of 45972110 shares. The stock had previously closed at $3.75.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $2.75.

Lloyds Banking Group Stock Up 0.1 %

The stock has a fifty day moving average of $3.09 and a 200-day moving average of $2.98. The stock has a market capitalization of $57.64 billion, a price-to-earnings ratio of 11.50 and a beta of 1.31.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last posted its earnings results on Thursday, February 20th. The financial services provider reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.03). Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. The company had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $4.76 billion. On average, equities analysts forecast that Lloyds Banking Group plc will post 0.27 EPS for the current fiscal year.

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Lloyds Banking Group Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its position in shares of Lloyds Banking Group by 2.8% during the fourth quarter. Apollon Wealth Management LLC now owns 122,641 shares of the financial services provider's stock worth $334,000 after acquiring an additional 3,346 shares during the last quarter. Independent Advisor Alliance grew its position in Lloyds Banking Group by 4.8% during the 4th quarter. Independent Advisor Alliance now owns 75,049 shares of the financial services provider's stock worth $204,000 after purchasing an additional 3,420 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in Lloyds Banking Group by 9.9% in the fourth quarter. Rehmann Capital Advisory Group now owns 38,339 shares of the financial services provider's stock valued at $104,000 after purchasing an additional 3,451 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of Lloyds Banking Group by 3.5% in the fourth quarter. OneDigital Investment Advisors LLC now owns 109,799 shares of the financial services provider's stock valued at $299,000 after buying an additional 3,728 shares during the last quarter. Finally, Brio Consultants LLC boosted its stake in shares of Lloyds Banking Group by 30.2% during the fourth quarter. Brio Consultants LLC now owns 16,735 shares of the financial services provider's stock worth $46,000 after buying an additional 3,880 shares during the period. Institutional investors and hedge funds own 2.15% 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 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.