Clearbridge Investments LLC Cuts Stake in Lloyds Banking Group plc (NYSE:LYG)

Clearbridge Investments LLC cut its stake in shares of Lloyds Banking Group plc (NYSE:LYG - Free Report) by 15.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,754,568 shares of the financial services provider's stock after selling 4,103,335 shares during the quarter. Clearbridge Investments LLC owned 0.14% of Lloyds Banking Group worth $59,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brentview Investment Management LLC purchased a new stake in shares of Lloyds Banking Group during the fourth quarter valued at approximately $31,000. Mesirow Financial Investment Management Inc. bought a new stake in Lloyds Banking Group during the 4th quarter valued at $32,000. SBI Securities Co. Ltd. purchased a new stake in Lloyds Banking Group during the 4th quarter valued at $34,000. Jackson Thornton Wealth Management LLC bought a new stake in Lloyds Banking Group in the 4th quarter worth $34,000. Finally, Simon Quick Advisors LLC purchased a new position in shares of Lloyds Banking Group in the fourth quarter valued at about $35,000. 2.15% of the stock is currently owned by institutional investors.

Lloyds Banking Group Stock Performance

Shares of LYG traded down $0.18 on Thursday, reaching $3.67. The stock had a trading volume of 40,227,220 shares, compared to its average volume of 14,492,599. Lloyds Banking Group plc has a 12-month low of $2.42 and a 12-month high of $3.91. The firm has a market capitalization of $55.67 billion, a price-to-earnings ratio of 11.11 and a beta of 1.25. The company has a 50-day simple moving average of $3.47 and a 200-day simple moving average of $3.08.

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Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced 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 the consensus estimate of $4.76 billion. Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. On average, analysts expect that Lloyds Banking Group plc will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The firm 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 dividend of $0.1035 per share. This is an increase from Lloyds Banking Group's previous semi-annual dividend of $0.05. The ex-dividend date of this dividend is Friday, April 11th. This represents a dividend yield of 4%. Lloyds Banking Group's dividend payout ratio (DPR) is currently 60.61%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LYG shares. Hsbc Global Res upgraded shares of Lloyds Banking Group to a "strong-buy" rating in a report on Thursday, March 20th. Keefe, Bruyette & Woods cut Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. Morgan Stanley raised Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. Finally, HSBC raised Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2.75.

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.