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Northwestern Mutual Wealth Management Co. Reduces Stock Holdings in Lloyds Banking Group plc (NYSE:LYG)

Northwestern Mutual Wealth Management Co. reduced its stake in Lloyds Banking Group plc (NYSE:LYGGet Rating) by 20.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,452 shares of the financial services provider’s stock after selling 5,436 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Lloyds Banking Group were worth $52,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its holdings in shares of Lloyds Banking Group by 5.3% in the first quarter. Commonwealth Equity Services LLC now owns 1,024,051 shares of the financial services provider’s stock valued at $2,467,000 after acquiring an additional 51,154 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Lloyds Banking Group by 15.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 52,667 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 6,942 shares during the period. Cable Hill Partners LLC boosted its holdings in shares of Lloyds Banking Group by 46.8% in the fourth quarter. Cable Hill Partners LLC now owns 31,071 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 9,905 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Lloyds Banking Group by 16.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 392,610 shares of the financial services provider’s stock valued at $1,001,000 after acquiring an additional 56,872 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Lloyds Banking Group by 8.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 319,152 shares of the financial services provider’s stock valued at $814,000 after acquiring an additional 23,606 shares during the period. 1.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LYG has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Lloyds Banking Group from GBX 60 ($0.72) to GBX 61 ($0.74) in a report on Thursday, May 19th. Credit Suisse Group increased their price target on Lloyds Banking Group from GBX 71 ($0.86) to GBX 72 ($0.87) in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft increased their price target on Lloyds Banking Group from GBX 61 ($0.74) to GBX 64 ($0.77) in a report on Friday, July 29th. Berenberg Bank increased their price target on Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a report on Friday, July 29th. Finally, Royal Bank of Canada increased their price target on Lloyds Banking Group from GBX 42 ($0.51) to GBX 45 ($0.54) in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Lloyds Banking Group Trading Down 3.3 %

Shares of LYG stock opened at $2.02 on Friday. Lloyds Banking Group plc has a fifty-two week low of $1.90 and a fifty-two week high of $3.00. The stock has a market cap of $34.58 billion, a P/E ratio of 6.31, a P/E/G ratio of 0.18 and a beta of 1.28. The business has a fifty day simple moving average of $2.10 and a 200-day simple moving average of $2.27. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70.

Lloyds Banking Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Monday, August 8th will be given a $0.0385 dividend. This represents a dividend yield of 4.7%. The ex-dividend date is Friday, August 5th. Lloyds Banking Group’s dividend payout ratio is currently 25.00%.

Lloyds Banking Group Profile

(Get Rating)

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom. It operates through three segments: Retail; Commercial Banking; and Insurance and Wealth. 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 and small business customers.

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