Citigroup Inc. Grows Position in Lloyds Banking Group plc (NYSE:LYG)

Citigroup Inc. increased its stake in Lloyds Banking Group plc (NYSE:LYG) by 58.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,703,943 shares of the financial services provider’s stock after buying an additional 627,592 shares during the quarter. Citigroup Inc.’s holdings in Lloyds Banking Group were worth $5,316,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LYG. Clearbridge Investments LLC purchased a new position in Lloyds Banking Group in the 2nd quarter worth about $36,252,000. Envestnet Asset Management Inc. increased its stake in shares of Lloyds Banking Group by 49.6% in 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 purchasing an additional 2,841,956 shares in the last quarter. American Century Companies Inc. raised its stake in Lloyds Banking Group by 17.2% during the 2nd quarter. American Century Companies Inc. now owns 5,472,171 shares of the financial services provider’s stock valued at $14,939,000 after purchasing an additional 804,035 shares during the period. First Eagle Investment Management LLC increased its holdings in Lloyds Banking Group by 25.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 5,087,379 shares of the financial services provider’s stock valued at $13,889,000 after acquiring an additional 1,026,639 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Lloyds Banking Group by 0.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,894,063 shares of the financial services provider’s stock valued at $15,269,000 after acquiring an additional 18,494 shares during the last quarter. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Price Performance

NYSE:LYG opened at $2.70 on Monday. The firm has a market cap of $41.29 billion, a P/E ratio of 6.92 and a beta of 1.35. The stock has a 50 day moving average of $2.94 and a two-hundred day moving average of $2.92. Lloyds Banking Group plc has a 12 month low of $2.00 and a 12 month high of $3.24. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.76.

Analyst Ratings Changes

A number of research firms recently commented on LYG. Morgan Stanley cut shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group initiated coverage on shares of Lloyds Banking Group in a research report on Friday, October 4th. They issued a “neutral” rating on the stock. Kepler Capital Markets assumed coverage on Lloyds Banking Group in a research report on Thursday, September 5th. They issued a “hold” rating on the stock. Finally, Citigroup downgraded shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group 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.