Lloyds Banking Group plc (LON: LLOY – Get Rating) has been given an average rating of “Moderate Buy” by the ten brokerages that currently cover the company, MarketBeat reports. One financial analyst gave the stock a sell rating, one issued a hold rating and six issued a buy rating for the company. The 1-year average price target among analysts who have reported on the stock in the past year is 61.86 GBX ($0.75).
Several equity research analysts have recently released reports on the company. JPMorgan Chase & Co. raised its price target on Lloyds Banking Group from GBX 61 ($0.74) to GBX 64 ($0.77) and gave the company an “overweight” rating in a Tuesday report September 6. Shore Capital reiterated a “buy” rating on Lloyds Banking Group shares in a Wednesday July 27 report. Royal Bank of Canada raised its price target on Lloyds Banking Group from GBX 42 ($0.51) to GBX 45 ($0.54) and gave the company an “underperforming” rating in a report Thursday, July 28. Credit Suisse Group restated an “outperform” rating and issued a GBX 73 ($0.88) target price on Lloyds Banking Group shares in a report on Friday, September 30. Finally, Jefferies Financial Group set a target price GBX 83 ($1.00) on Lloyds Banking Group in a Tuesday, September 6 report.
Lloyds Banking Group price performance
Lloyds Banking Group shares opened at 43.19 GBX ($0.52) on Friday. The company has a market cap of £29.24 billion and a price to earnings ratio of 719.17. Lloyds Banking Group has a 52-week minimum of 38.10 GBX ($0.46) and a 52-week maximum of 56 GBX ($0.68). The stock has a 50-day simple moving average of 44.93 GBX and a 200-day simple moving average of 44.69 GBX.
Lloyds Banking Group cuts dividends
The company also recently declared a dividend, which was paid on Monday, September 12. Shareholders of record on Thursday August 4 received a dividend of GBX 0.80 ($0.01) per share. The ex-dividend date was Thursday, August 4. This represents a dividend yield of 1.84%. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 33.33%.
Insider trading at Lloyds Banking Group
In other Lloyds Banking Group news, insider Scott Wheway bought 150,000 shares of the company in a trade dated Wednesday, August 24. The share was purchased at an average cost of 44 GBX ($0.53) per share, for a total transaction of £66,000 ($79,748.67). Separately, insider Charlie Nunn acquired 281,955 shares in a trade dated Thursday, September 22. The shares were acquired at an average cost of 48 GBX ($0.58) per share, for a total transaction of £135,338.40 ($163,531.17). Additionally, insider Scott Wheway acquired 150,000 shares in a trade dated Wednesday, August 24. The shares were purchased at an average price of 44 GBX ($0.53) per share, for a total transaction of £66,000 ($79,748.67).
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.
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