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

Lloyds Banking Group plc (NYSE:LYG - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twelve research firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $2.75.

A number of analysts have weighed in on the stock. Hsbc Global Res upgraded shares of Lloyds Banking Group to a "strong-buy" rating in a research report on Thursday, March 20th. Morgan Stanley raised Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, March 4th. HSBC raised Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods downgraded Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th.

Lloyds Banking Group Stock Up 0.8 %

Shares of LYG traded up $0.03 during midday trading on Friday, hitting $3.84. The company's stock had a trading volume of 13,518,987 shares, compared to its average volume of 14,329,285. Lloyds Banking Group has a one year low of $2.42 and a one year high of $3.91. The stock has a market capitalization of $58.33 billion, a price-to-earnings ratio of 11.64 and a beta of 1.25. The company's fifty day simple moving average is $3.45 and its two-hundred day simple moving average is $3.07.

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Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued its earnings results on Thursday, February 20th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $4.76 billion. On average, research analysts predict that Lloyds Banking Group will post 0.27 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 30th. Investors 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. This represents a dividend yield of 4%. The ex-dividend date is Friday, April 11th. Lloyds Banking Group's payout ratio is currently 60.61%.

Institutional Trading of Lloyds Banking Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in shares of Lloyds Banking Group by 339.7% during the third quarter. Thrivent Financial for Lutherans now owns 58,688 shares of the financial services provider's stock worth $183,000 after buying an additional 45,341 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Lloyds Banking Group by 20.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,055,584 shares of the financial services provider's stock worth $3,293,000 after acquiring an additional 180,178 shares in the last quarter. Raymond James Trust N.A. lifted its stake in shares of Lloyds Banking Group by 43.1% in the 3rd quarter. Raymond James Trust N.A. now owns 51,412 shares of the financial services provider's stock valued at $160,000 after purchasing an additional 15,478 shares during the period. Citigroup Inc. boosted its position in shares of 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 purchasing an additional 627,592 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in Lloyds Banking Group by 73.3% during the third quarter. Cerity Partners LLC now owns 687,833 shares of the financial services provider's stock worth $2,146,000 after purchasing an additional 290,927 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.