Raymond James & Associates lessened its stake in Lloyds Banking Group plc (NYSE:LYG – Get Rating) by 15.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,175,533 shares of the financial services provider’s stock after selling 216,440 shares during the quarter. Raymond James & Associates’ holdings in Lloyds Banking Group were worth $2,104,000 at the end of the most recent quarter.
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A number of other hedge funds also recently made changes to their positions in LYG. Jane Street Group LLC boosted its holdings in shares of Lloyds Banking Group by 203.1% in the 2nd quarter. Jane Street Group LLC now owns 25,791,856 shares of the financial services provider’s stock valued at $52,615,000 after purchasing an additional 17,281,593 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Lloyds Banking Group by 74.7% in the 1st quarter. Bank of America Corp DE now owns 11,532,910 shares of the financial services provider’s stock valued at $27,794,000 after acquiring an additional 4,930,905 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Lloyds Banking Group by 57.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,445,976 shares of the financial services provider’s stock valued at $30,006,000 after acquiring an additional 4,519,448 shares during the period. Bank of Montreal Can raised its stake in shares of Lloyds Banking Group by 14.6% in the 2nd quarter. Bank of Montreal Can now owns 17,612,082 shares of the financial services provider’s stock valued at $36,985,000 after acquiring an additional 2,246,121 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in shares of Lloyds Banking Group by 85.1% in the 1st quarter. Neuberger Berman Group LLC now owns 4,343,069 shares of the financial services provider’s stock valued at $10,555,000 after acquiring an additional 1,996,879 shares during the period. Institutional investors and hedge funds own 2.15% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on LYG. JPMorgan Chase & Co. downgraded shares of Lloyds Banking Group from an “overweight” rating to a “neutral” rating in a research note on Tuesday, December 6th. Barclays cut their target price on shares of Lloyds Banking Group from GBX 55 ($0.67) to GBX 50 ($0.61) in a research note on Thursday, October 20th. Royal Bank of Canada raised shares of Lloyds Banking Group from an “underperform” rating to an “outperform” rating in a research note on Friday, November 25th. StockNews.com initiated coverage on shares of Lloyds Banking Group in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Morgan Stanley lifted their price target on shares of Lloyds Banking Group from GBX 58 ($0.71) to GBX 60 ($0.73) in a research note on Wednesday, January 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $58.00.
Lloyds Banking Group Stock Performance
LYG opened at $2.44 on Monday. The company has a 50-day moving average of $2.24 and a 200-day moving average of $2.10. The company has a market capitalization of $41.05 billion, a P/E ratio of 8.41, a PEG ratio of 4.97 and a beta of 1.26. Lloyds Banking Group plc has a 1-year low of $1.70 and a 1-year high of $2.92.
Lloyds Banking Group (NYSE:LYG – Get Rating) last released its earnings results on Thursday, October 27th. The financial services provider reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $4.97 billion. Lloyds Banking Group had a net margin of 17.87% and a return on equity of 8.41%. As a group, sell-side analysts expect that Lloyds Banking Group plc will post 0.35 earnings per share for the current fiscal year.
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 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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