Toronto Dominion Bank acquires shares of 40,000 Lloyds Banking Group plc (NYSE: LYG)

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The Toronto Dominion Bank bought a new position in shares of Lloyds Banking Group plc (NYSE: LYGGet a rating) in the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission. The company bought 40,000 shares of the financial services provider, valued at around $96,000.

A number of other large investors have also recently bought and sold shares of LYG. Northwestern Mutual Wealth Management Co. increased its stake in Lloyds Banking Group shares by 26.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,888 shares of the financial services provider valued at $68,000 after purchasing an additional 5,564 shares during the period. Eagle Asset Management Inc. increased its stake in Lloyds Banking Group shares by 3.3% during the fourth quarter. Eagle Asset Management Inc. now owns 183,990 shares of the financial services provider valued at $467,000 after purchasing an additional 5,865 shares during the period. Sage Rhino Capital LLC increased its stake in Lloyds Banking Group shares by 27.1% in the first quarter. Sage Rhino Capital LLC now owns 27,730 shares of the financial services provider valued at $67,000 after acquiring 5,917 additional shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings of Lloyds Banking Group shares by 15.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 52,667 shares of the financial services provider valued at $134,000 after acquiring an additional 6,942 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Lloyds Banking Group shares by 15.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 53,151 shares of the financial services provider valued at $136,000 after acquiring an additional 7,101 shares last quarter. Hedge funds and other institutional investors own 1.41% of the company’s shares.

Performance of Lloyds Banking Group shares

LYG opened at $2.10 on Friday. Lloyds Banking Group plc has a 52 week minimum of $1.90 and a 52 week maximum of $3.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt ratio of 1.70. The company has a market cap of $36.25 billion, a P/E ratio of 6.56, a price-to-earnings growth ratio of 0.20, and a beta of 1.28. The company’s 50-day moving average price is $2.10 and its 200-day moving average price is $2.29.

Lloyds Banking Group cuts dividends

The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 22. Shareholders of record on Monday August 8 will receive a dividend of $0.0385 per share. The ex-dividend date is Friday August 5th. This represents a dividend yield of 4.7%. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 25.00%.

Analysts set new price targets

LYG has been the subject of several recent research reports. Berenberg Bank raised its price target on Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a Friday, July 29 report. Royal Bank of Canada raised its price target on Lloyds Banking Group from GBX 42 ($0.51) to GBX 45 ($0.54) in a Thursday, July 28 report. Deutsche Bank Aktiengesellschaft raised its price target on Lloyds Banking Group from GBX 61 ($0.74) to GBX 64 ($0.77) in a Friday, July 29 report. Barclays raised its price target on Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a Friday July 29 report. Finally, Bank of America upgraded Lloyds Banking Group shares from a “neutral” rating to a “buy” rating in a Wednesday, April 27 report. One analyst gave the stock a sell rating, three gave the company a hold rating and eight gave the company a buy rating. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.00.

Lloyds Banking Group Company Profile

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Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the UK. It operates through three segments: Retail; The Commercial Bank; and insurance and heritage. The Retail segment offers a range of financial services products, including current accounts, savings accounts, mortgages, auto finance, unsecured loans, leasing solutions and credit cards to individuals and to small businesses.

Further reading

Institutional ownership by quarter for Lloyds Banking Group (NYSE:LYG)



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