Lloyds Banking Group PLC (NYSE:LYG)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $3.33, but opened at $3.43. Lloyds Banking Group PLC shares last traded at $3.55, with a volume of 4,325,547 shares changing hands.

LYG has been the topic of several recent research reports. Zacks Investment Research upgraded Lloyds Banking Group PLC from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Friday, July 14th. ValuEngine upgraded Lloyds Banking Group PLC from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) restated a “sell” rating on shares of Lloyds Banking Group PLC in a research report on Wednesday, September 6th. BidaskClub lowered Lloyds Banking Group PLC from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, Keefe, Bruyette & Woods lowered Lloyds Banking Group PLC from a “market perform” rating to an “underperform” rating in a research report on Wednesday, May 31st. Six research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $3.75.

The firm has a market cap of $56.35 billion, a PE ratio of 32.78 and a beta of 0.76. The firm has a 50 day moving average price of $3.41 and a 200 day moving average price of $3.50.

The company also recently declared a None dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, August 11th will be issued a dividend of $0.052 per share. This is a boost from Lloyds Banking Group PLC’s previous None dividend of $0.05. This represents a yield of 2.98%. The ex-dividend date is Wednesday, August 9th. Lloyds Banking Group PLC’s dividend payout ratio is currently 100.00%.

A number of hedge funds and other institutional investors have recently bought and sold shares of LYG. Schafer Cullen Capital Management Inc. purchased a new position in Lloyds Banking Group PLC during the first quarter worth about $101,000. Northwestern Mutual Wealth Management Co. raised its holdings in Lloyds Banking Group PLC by 0.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,925 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 215 shares in the last quarter. CAPROCK Group Inc. raised its holdings in Lloyds Banking Group PLC by 33.1% during the second quarter. CAPROCK Group Inc. now owns 30,718 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 7,632 shares in the last quarter. Private Advisor Group LLC raised its holdings in Lloyds Banking Group PLC by 199.6% during the first quarter. Private Advisor Group LLC now owns 42,947 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 28,612 shares in the last quarter. Finally, Signaturefd LLC purchased a new position in Lloyds Banking Group PLC during the first quarter worth about $125,000. 2.12% of the stock is owned by hedge funds and other institutional investors.

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About Lloyds Banking Group PLC

Lloyds Banking Group plc is a provider of financial services to individual and business customers in the United Kingdom. The Company’s main business activities are retail and commercial banking, general insurance, and long-term savings, protection and investment. The Company’s segments are Retail, Commercial Banking, Consumer Finance, Insurance and Other.

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