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Lloyds Banking Group pension scheme trustees have secured two new longevity swaps to cover £5.1bn of liabilities, partnering with Rothesay Life, Pacific Life Re, and Prudential Financial. The arrangements, which protect £2.1bn and £3bn of pensioner liabilities, follow previous significant longevity swaps in 2020 and 2022, enhancing the schemes' security against longevity risk. The transactions were facilitated by WTW and A&O, with a focus on a transparent selection process for the insurance providers.
Lloyds Banking Group Pensions Trustees Limited has secured two longevity swaps totaling £5.1bn to cover pensioner liabilities in its schemes. The transactions, involving Rothesay Life Plc and reinsurance from Pacific Life Re and Prudential Financial, aim to mitigate risks associated with increasing life expectancy without altering member benefits. Trustee director Vicky Paramour emphasized the importance of these deals in enhancing the security of the pension schemes.
Lloyds Banking Group has partnered with Cambridge University and AI start-up Cambridge Spark to provide a tailored AI education course for over 200 employees, aiming to enhance their AI skills through 80 hours of specialized training over six months. Chief Operating Officer Ron van Kemenade emphasized the program's goal to empower leaders to innovate with AI, driving commercial excellence in the financial services sector. The initiative began with a two-day session at the University, featuring insights from Professor Stelios Kavadias.
Lloyds Banking Group has announced a semi-annual dividend of $0.1035, yielding 4%, an increase from the previous $0.05. The ex-dividend date is April 11th, and the company currently holds a payout ratio of 60.61%. Analysts have assigned an average "Hold" rating, with a price target of $2.75.
HSBC Global Research upgraded Lloyds Banking Group to a "strong-buy" rating, while analysts maintain a consensus "Hold" rating with an average price target of $2.75. The company recently reported earnings of $0.05 per share, missing estimates, and announced a dividend increase to $0.1035, yielding 4%.
Assurant has launched a device trade-in service in partnership with Lloyds Banking Group, enhancing customer experience by allowing users to exchange their old devices for value. This initiative aims to streamline the process of upgrading technology while promoting sustainability.
Lloyds Banking Group PLC has purchased 6,832,683 of its ordinary shares at a volume-weighted average price of 73.7922 pence per share as part of its ongoing share buyback program. This strategic move aims to enhance shareholder value and optimize the company's capital structure. The group, known for its retail and commercial banking services, operates under brands like Lloyds Bank, Halifax, and Bank of Scotland.
Lloyds Bank shares have seen a 43% increase over the past year, turning a £10,000 investment into £14,300. Analysts' forecasts suggest potential future values ranging from £7,300 to £12,160, reflecting uncertainty in the market, particularly due to economic conditions and interest rates. Caution is advised when interpreting these predictions, as they can change based on various factors.
Lloyds Banking Group has purchased 7.97 million shares at 73.2389 pence each as part of its buyback program, aiming to enhance shareholder value. The stock recently hit a 52-week high of 73.27 pence, with analysts maintaining a mixed outlook, averaging a "Hold" rating and a price target of 62.40 pence. Additionally, the company plans to increase its dividend to 2.11 pence per share, reflecting strong financial performance and a commitment to returning capital to shareholders.
Lloyds Banking Group shares reached a new 52-week high, trading at GBX 193 ($2.48) before closing at GBX 73.27 ($0.94). Analysts maintain a "Hold" rating, with a consensus price target of GBX 62.40 ($0.80), while the company recently announced a dividend increase to GBX 2.11 ($0.03), yielding 3.01%.
Lloyds Banking Group plc
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lloyds banking group secures longevity swaps for pension funds worth 5.1 billion
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