Orion Portfolio Solutions LLC Sells 92,950 Shares of Lloyds Banking Group plc (NYSE:LYG)

Orion Portfolio Solutions LLC reduced its stake in Lloyds Banking Group plc (NYSE:LYG) by 9.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 852,630 shares of the financial services provider’s stock after selling 92,950 shares during the period. Orion Portfolio Solutions LLC’s holdings in Lloyds Banking Group were worth $2,319,000 as of its most recent SEC filing.

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

Lloyds Banking Group Stock Performance

Shares of NYSE LYG opened at $3.81 on Wednesday. The business’s 50 day moving average price is $3.45 and its 200-day moving average price is $3.07. Lloyds Banking Group plc has a fifty-two week low of $2.42 and a fifty-two week high of $3.91. The company has a market cap of $57.80 billion, a price-to-earnings ratio of 11.53 and a beta of 1.25.

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

Lloyds Banking Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, April 11th will be given a dividend of $0.1035 per share. The ex-dividend date is Friday, April 11th. This is a positive change from Lloyds Banking Group’s previous semi-annual dividend of $0.05. This represents a dividend yield of 4%. Lloyds Banking Group’s dividend payout ratio (DPR) is 60.61%.

Wall Street Analysts Forecast Growth

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