Fmr LLC Grows Position in Lloyds Banking Group plc (NYSE:LYG)

Fmr LLC raised its position in Lloyds Banking Group plc (NYSE:LYG) by 14.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,280,034 shares of the financial services provider’s stock after purchasing an additional 2,472,263 shares during the quarter. Fmr LLC owned 0.13% of Lloyds Banking Group worth $60,154,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Clearbridge Investments LLC bought a new stake in shares of Lloyds Banking Group during the 2nd quarter worth approximately $36,252,000. Envestnet Asset Management Inc. increased its stake in 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 during the period. American Century Companies Inc. lifted its position in shares of Lloyds Banking Group by 17.2% during the second quarter. American Century Companies Inc. now owns 5,472,171 shares of the financial services provider’s stock worth $14,939,000 after purchasing an additional 804,035 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Lloyds Banking Group by 25.3% during the second 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 purchasing an additional 1,026,639 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in Lloyds Banking Group by 0.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,894,063 shares of the financial services provider’s stock worth $15,269,000 after buying an additional 18,494 shares during the period. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Stock Performance

Shares of LYG stock opened at $2.71 on Friday. The firm has a market cap of $41.37 billion, a price-to-earnings ratio of 6.94 and a beta of 1.32. Lloyds Banking Group plc has a 52-week low of $2.00 and a 52-week high of $3.24. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. The company’s 50 day moving average is $2.91 and its 200 day moving average is $2.92.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LYG shares. Morgan Stanley downgraded shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Kepler Capital Markets began coverage on Lloyds Banking Group in a research note on Thursday, September 5th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group assumed coverage on Lloyds Banking Group in a research report on Friday, October 4th. They set a “neutral” rating for the company. Seven investment 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 stock currently has an average rating of “Hold” and a consensus price target of $2.75.

About Lloyds Banking Group

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.