Lloyds Banking Group (NYSE:LYG) Sees Unusually-High Trading Volume - Here's What Happened

Shares of Lloyds Banking Group plc (NYSE:LYG - Get Free Report) saw strong trading volume on Tuesday . 42,122,905 shares were traded during mid-day trading, an increase of 164% from the previous session's volume of 15,925,818 shares.The stock last traded at $3.55 and had previously closed at $3.40.

Lloyds Banking Group Stock Performance

The company has a market cap of $57.18 billion, a price-to-earnings ratio of 11.41 and a beta of 1.31. The firm's 50-day moving average price is $3.00 and its 200 day moving average price is $2.96.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released 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). The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $4.76 billion. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. As a group, equities research analysts predict that Lloyds Banking Group plc will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, April 11th will be paid a $0.1035 dividend. This is a positive change from Lloyds Banking Group's previous semi-annual dividend of $0.05. The ex-dividend date is Friday, April 11th. This represents a yield of 4%. Lloyds Banking Group's dividend payout ratio is presently 30.30%.

Remove Ads

Hedge Funds Weigh In On Lloyds Banking Group

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC boosted its stake in Lloyds Banking Group by 225.0% during the 4th quarter. Millennium Management LLC now owns 7,098,940 shares of the financial services provider's stock worth $19,309,000 after acquiring an additional 4,914,680 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Lloyds Banking Group during the fourth quarter worth $11,226,000. Northern Trust Corp grew its holdings in shares of Lloyds Banking Group by 34.7% in the 4th quarter. Northern Trust Corp now owns 15,604,325 shares of the financial services provider's stock valued at $42,444,000 after buying an additional 4,021,039 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Lloyds Banking Group by 11.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 26,669,053 shares of the financial services provider's stock valued at $72,540,000 after buying an additional 2,713,559 shares in the last quarter. Finally, FMR LLC raised its stake in Lloyds Banking Group by 14.7% during the 3rd quarter. FMR LLC now owns 19,280,034 shares of the financial services provider's stock worth $60,154,000 after buying an additional 2,472,263 shares during the period. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Lloyds Banking Group Company Profile

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.