5 Cheap Dividend Stocks to Buy Today

4. Lloyds Banking Group plc (NYSE:LYG)

Number of Hedge Fund Holders: 7

Share Price as of March 28: $2.53

Dividend Yield as of March 28: 4.21%

Lloyds Banking Group plc (NYSE:LYG) is a London-based provider of banking and financial services in the United Kingdom. The company specializes in retail and commercial banking, insurance, and wealth management. Lloyds Banking Group plc (NYSE:LYG)’s dividend yield on March 28 came in at 4.21%. 

On February 24, Lloyds Banking Group plc (NYSE:LYG) reported FY21 GAAP EPS of £0.075. The total income of £37.44 billion increased 28% year-over-year. The company also announced plans for an ordinary share buyback of up to £2 billion, which is expected to be completed by 31 December 2022. 

JPMorgan analyst Raul Sinha reiterated an Overweight rating on Lloyds Banking Group plc (NYSE:LYG) on March 14, but lowered the price target to £56 from £63. 

Among the hedge funds tracked by Insider Monkey, 7 funds were bullish on Lloyds Banking Group plc (NYSE:LYG) at the end of Q4 2021, compared to 8 funds in the prior quarter. Ken Griffin’s Citadel Investment Group is a significant shareholder of the company, with more than 4 million shares worth $10.4 million. 

Here is what Oakmark Funds has to say about Lloyds Banking Group plc (NYSE:LYG) in its Q3 2021 investor letter:

“Lloyds’ great return is partly the result of its exceptionally low starting price. Nevertheless, company fundamentals have also improved in part because of management’s conservative approach to reserving for loan losses as well as its decision at the beginning of the pandemic to suspend its program of returning excess capital to shareholders—a program it has since reinstated.”