Meritage Portfolio Management Purchases New Holdings in Lloyds Banking Group plc (NYSE:LYG)

Meritage Portfolio Management acquired a new position in Lloyds Banking Group plc (NYSE:LYG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,451,800 shares of the financial services provider’s stock, valued at approximately $3,470,000.

Other institutional investors also recently modified their holdings of the company. Mondrian Investment Partners LTD lifted its position in Lloyds Banking Group by 8.7% in the third quarter. Mondrian Investment Partners LTD now owns 29,131,456 shares of the financial services provider’s stock worth $62,050,000 after purchasing an additional 2,336,000 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Lloyds Banking Group during the 3rd quarter valued at about $1,807,000. Natixis Advisors L.P. raised its position in Lloyds Banking Group by 16.2% in the third quarter. Natixis Advisors L.P. now owns 5,281,855 shares of the financial services provider’s stock worth $11,250,000 after purchasing an additional 735,219 shares in the last quarter. Acadian Asset Management LLC bought a new position in Lloyds Banking Group during the third quarter worth about $1,363,000. Finally, Raymond James & Associates boosted its holdings in Lloyds Banking Group by 23.9% during the fourth quarter. Raymond James & Associates now owns 2,443,769 shares of the financial services provider’s stock valued at $5,841,000 after purchasing an additional 471,656 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Trading Down 0.8 %

LYG stock traded down $0.02 during trading on Thursday, hitting $2.52. The company had a trading volume of 11,793,627 shares, compared to its average volume of 9,228,263. The firm has a 50-day moving average price of $2.46 and a 200-day moving average price of $2.27. Lloyds Banking Group plc has a 12 month low of $1.88 and a 12 month high of $2.72. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.81. The stock has a market cap of $40.14 billion, a price-to-earnings ratio of 6.36, a PEG ratio of 1.06 and a beta of 1.32.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.11 EPS for the quarter. Lloyds Banking Group had a net margin of 17.97% and a return on equity of 11.29%. The company had revenue of $19.05 billion during the quarter. As a group, analysts predict that Lloyds Banking Group plc will post 0.32 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 31st. Investors of record on Friday, April 12th will be paid a dividend of $0.046 per share. The ex-dividend date is Thursday, April 11th. This represents a dividend yield of 5.9%. Lloyds Banking Group’s dividend payout ratio (DPR) is presently 45.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LYG shares. Bank of America upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, March 21st. Berenberg Bank assumed coverage on shares of Lloyds Banking Group in a research note on Thursday. They issued a “hold” rating and a $2.75 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $55.39.

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.