Ritholtz Wealth Management Decreases Position in Lloyds Banking Group plc (NYSE:LYG)

Ritholtz Wealth Management lessened its position in Lloyds Banking Group plc (NYSE:LYG) by 15.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,247,720 shares of the financial services provider’s stock after selling 231,254 shares during the quarter. Ritholtz Wealth Management’s holdings in Lloyds Banking Group were worth $3,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Clearbridge Investments LLC bought a new position in shares of Lloyds Banking Group during the second quarter valued at approximately $36,252,000. Envestnet Asset Management Inc. lifted its holdings in Lloyds Banking Group by 49.6% during the second quarter. Envestnet Asset Management Inc. now owns 8,577,101 shares of the financial services provider’s stock worth $23,415,000 after buying an additional 2,841,956 shares during the period. FMR LLC boosted its position in Lloyds Banking Group by 14.7% during the 3rd quarter. FMR LLC now owns 19,280,034 shares of the financial services provider’s stock valued at $60,154,000 after acquiring an additional 2,472,263 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Lloyds Banking Group by 58.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider’s stock valued at $20,778,000 after acquiring an additional 2,456,914 shares during the period. Finally, First Eagle Investment Management LLC lifted its stake in shares of Lloyds Banking Group by 25.3% during the 2nd quarter. First Eagle Investment Management LLC now owns 5,087,379 shares of the financial services provider’s stock worth $13,889,000 after purchasing an additional 1,026,639 shares during the last quarter. Institutional investors own 2.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on LYG. The Goldman Sachs Group assumed coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They issued a “neutral” rating for the company. Morgan Stanley cut Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.75.

Lloyds Banking Group Trading Up 0.9 %

LYG opened at $2.86 on Friday. Lloyds Banking Group plc has a 12-month low of $2.00 and a 12-month high of $3.24. The firm has a 50 day moving average of $2.72 and a two-hundred day moving average of $2.91. The firm has a market capitalization of $43.26 billion, a PE ratio of 7.32 and a beta of 1.31.

Lloyds Banking Group Company Profile

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