Foster Victor Wealth Advisors LLC Increases Stock Position in Lloyds Banking Group plc (NYSE:LYG)

Foster Victor Wealth Advisors LLC raised its holdings in shares of Lloyds Banking Group plc (NYSE:LYG) by 13.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,384 shares of the financial services provider’s stock after purchasing an additional 8,882 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Lloyds Banking Group were worth $234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Clearbridge Investments LLC purchased a new position in shares of Lloyds Banking Group during the second quarter valued at approximately $36,252,000. First Eagle Investment Management LLC raised its stake in Lloyds Banking Group by 9.2% during the 1st quarter. First Eagle Investment Management LLC now owns 4,060,740 shares of the financial services provider’s stock valued at $10,517,000 after buying an additional 343,753 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Lloyds Banking Group by 166.2% during the 1st quarter. CreativeOne Wealth LLC now owns 47,224 shares of the financial services provider’s stock valued at $122,000 after buying an additional 29,486 shares during the period. CWM LLC boosted its stake in shares of Lloyds Banking Group by 37.9% in the 2nd quarter. CWM LLC now owns 71,039 shares of the financial services provider’s stock worth $194,000 after buying an additional 19,525 shares during the last quarter. Finally, Aprio Wealth Management LLC grew its holdings in shares of Lloyds Banking Group by 71.5% in the first quarter. Aprio Wealth Management LLC now owns 47,613 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 19,857 shares during the period. Institutional investors own 2.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LYG. The Goldman Sachs Group assumed coverage on Lloyds Banking Group in a research report on Friday, October 4th. They issued a “neutral” rating on the stock. Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 26th. UBS Group reissued a “neutral” rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. BNP Paribas raised Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 5th. Finally, Kepler Capital Markets initiated coverage on Lloyds Banking Group in a report on Thursday, September 5th. They set a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Lloyds Banking Group has a consensus rating of “Hold” and an average target price of $2.75.

Lloyds Banking Group Price Performance

NYSE:LYG opened at $3.16 on Thursday. The stock has a market cap of $49.39 billion, a PE ratio of 8.32 and a beta of 1.34. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.89. The business’s 50-day simple moving average is $3.04 and its two-hundred day simple moving average is $2.86. Lloyds Banking Group plc has a 52 week low of $1.88 and a 52 week high of $3.18.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.09 EPS for the quarter. The company had revenue of $9.55 billion for the quarter. Lloyds Banking Group had a return on equity of 10.34% and a net margin of 12.40%. As a group, analysts forecast that Lloyds Banking Group plc will post 0.32 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, September 20th. Investors of record on Monday, August 5th were paid a dividend of $0.0546 per share. This represents a yield of 4.4%. This is a boost from Lloyds Banking Group’s previous semi-annual dividend of $0.05. The ex-dividend date of this dividend was Monday, August 5th. Lloyds Banking Group’s dividend payout ratio (DPR) is presently 26.32%.

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.