Brokerages Set Lloyds Banking Group plc (NYSE:LYG) Target Price at $2.75

Shares of Lloyds Banking Group plc (NYSE:LYG - Get Free Report) have been given an average recommendation of "Hold" by the ten analysts that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $2.75.

Separately, Morgan Stanley upgraded Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday.

Lloyds Banking Group Stock Performance

Shares of NYSE:LYG traded up $0.01 during midday trading on Tuesday, hitting $3.80. 34,047,262 shares of the stock were exchanged, compared to its average volume of 13,157,136. The business's 50-day moving average price is $3.09 and its 200 day moving average price is $2.98. Lloyds Banking Group has a 12 month low of $2.42 and a 12 month high of $3.91. The stock has a market capitalization of $57.64 billion, a price-to-earnings ratio of 11.50 and a beta of 1.25.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last posted its earnings results on Thursday, February 20th. The financial services provider reported $0.05 earnings per share 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 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%. As a group, sell-side analysts expect that Lloyds Banking Group will post 0.27 EPS for the current year.

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Lloyds Banking Group Increases Dividend

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

Institutional Trading of Lloyds Banking Group

A number of institutional investors have recently bought and sold shares of LYG. Millennium Management LLC raised its position in shares of Lloyds Banking Group by 225.0% in 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in Lloyds Banking Group during the fourth quarter worth approximately $11,226,000. Northern Trust Corp increased its holdings in Lloyds Banking Group by 34.7% in the fourth quarter. Northern Trust Corp now owns 15,604,325 shares of the financial services provider's stock worth $42,444,000 after purchasing an additional 4,021,039 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Lloyds Banking Group by 11.3% in the fourth 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 during the period. Finally, FMR LLC boosted its holdings in shares of 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 in the last quarter. Institutional investors own 2.15% of the company's stock.

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.