Arkadios Wealth Advisors Makes New $42,000 Investment in Lloyds Banking Group plc (NYSE:LYG)

Arkadios Wealth Advisors bought a new position in Lloyds Banking Group plc (NYSE:LYG) in the third quarter, HoldingsChannel.com reports. The fund bought 13,620 shares of the financial services provider’s stock, valued at approximately $42,000.

A number of other large investors have also added to or reduced their stakes in the stock. Mondrian Investment Partners LTD grew its position in shares of Lloyds Banking Group by 39.2% during the 1st quarter. Mondrian Investment Partners LTD now owns 89,948,537 shares of the financial services provider’s stock valued at $232,967,000 after acquiring an additional 25,351,270 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Lloyds Banking Group during the 2nd quarter valued at $36,252,000. Envestnet Asset Management Inc. grew its position in shares of Lloyds Banking Group by 49.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,577,101 shares of the financial services provider’s stock valued at $23,415,000 after acquiring an additional 2,841,956 shares during the period. American Century Companies Inc. grew its position in shares of 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 acquiring an additional 804,035 shares during the period. Finally, First Eagle Investment Management LLC grew its position 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 valued at $13,889,000 after acquiring an additional 1,026,639 shares during the period. Institutional investors own 2.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Kepler Capital Markets began coverage on shares of Lloyds Banking Group in a research report on Thursday, September 5th. They set a “hold” rating for the company. Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. Morgan Stanley downgraded shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday. BNP Paribas raised shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 5th. Finally, Citigroup downgraded shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Stock Up 1.5 %

Shares of LYG stock opened at $2.79 on Friday. The stock has a market cap of $42.88 billion, a P/E ratio of 7.15 and a beta of 1.34. Lloyds Banking Group plc has a 52 week low of $1.98 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 fifty day simple moving average is $3.05 and its two-hundred day simple moving average is $2.90.

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.