The Goldman Sachs Group Begins Coverage on Lloyds Banking Group (NYSE:LYG)

The Goldman Sachs Group assumed coverage on shares of Lloyds Banking Group (NYSE:LYG) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage issued a neutral rating on the financial services provider’s stock.

LYG has been the subject of a number of other research reports. Citigroup cut Lloyds Banking Group from a buy rating to a neutral rating in a report on Monday, August 5th. Kepler Capital Markets initiated coverage on Lloyds Banking Group in a research note on Thursday, September 5th. They issued a hold rating on the stock. UBS Group reaffirmed a neutral rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. BNP Paribas raised shares of Lloyds Banking Group from a neutral rating to an outperform rating in a research report on Friday, July 5th. Finally, Royal Bank of Canada downgraded shares of Lloyds Banking Group from an outperform rating to a sector perform rating in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $2.75.

Lloyds Banking Group Stock Down 0.5 %

NYSE:LYG opened at $3.08 on Friday. Lloyds Banking Group has a twelve month low of $1.88 and a twelve month high of $3.18. The firm has a market capitalization of $48.06 billion, a price-to-earnings ratio of 8.09 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 stock’s 50 day moving average price is $3.01 and its two-hundred day moving average price is $2.84.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.09 earnings per share for the quarter. Lloyds Banking Group had a net margin of 12.40% and a return on equity of 10.34%. The business had revenue of $9.55 billion for the quarter. Equities research analysts expect that Lloyds Banking Group will post 0.32 earnings per share for the current fiscal year.

Lloyds Banking Group Increases Dividend

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

Hedge Funds Weigh In On Lloyds Banking Group

Hedge funds have recently bought and sold shares of the business. Exencial Wealth Advisors LLC acquired a new position in shares of Lloyds Banking Group during the 4th quarter worth approximately $28,000. Virtu Financial LLC acquired a new position in Lloyds Banking Group in the 4th quarter valued at $327,000. Abel Hall LLC bought a new stake in shares of Lloyds Banking Group during the 4th quarter valued at $42,000. Goldman Sachs Group Inc. grew its holdings in shares of Lloyds Banking Group by 5.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 22,166,362 shares of the financial services provider’s stock worth $52,978,000 after purchasing an additional 1,180,775 shares in the last quarter. Finally, SageView Advisory Group LLC bought a new position in shares of Lloyds Banking Group in the fourth quarter worth $97,000. 2.15% of the stock is owned by institutional investors.

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.