Lloyds Banking Group plc (NYSE:LYG) Stake Raised by Financial Advocates Investment Management

Financial Advocates Investment Management increased its holdings in Lloyds Banking Group plc (NYSE:LYG) by 176.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,548 shares of the financial services provider’s stock after acquiring an additional 37,392 shares during the period. Financial Advocates Investment Management’s holdings in Lloyds Banking Group were worth $183,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Transcend Capital Advisors LLC bought a new position in Lloyds Banking Group in the 2nd quarter worth $28,000. Interchange Capital Partners LLC acquired a new position in shares of Lloyds Banking Group during the second quarter worth approximately $28,000. Intergy Private Wealth LLC bought a new stake in shares of Lloyds Banking Group during the second quarter worth $29,000. Susquehanna International Securities Ltd. acquired a new position in Lloyds Banking Group in the first quarter valued at approximately $30,000. Finally, Tcwp LLC bought a new stake in shares of Lloyds Banking Group in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Stock Performance

Shares of LYG opened at $2.83 on Tuesday. The business’s 50 day moving average price is $3.05 and its 200-day moving average price is $2.90. Lloyds Banking Group plc has a 52 week low of $1.99 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 stock has a market cap of $43.50 billion, a P/E ratio of 7.26 and a beta of 1.35.

Analyst Ratings Changes

LYG has been the subject of several analyst reports. Citigroup cut shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. UBS Group reissued a “neutral” rating on shares of Lloyds Banking Group in a research note on Tuesday, July 30th. Royal Bank of Canada lowered Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 26th. The Goldman Sachs Group started coverage on Lloyds Banking Group in a research note on Friday, October 4th. They issued a “neutral” rating for the company. Finally, Kepler Capital Markets began coverage on shares of Lloyds Banking Group in a research note on Thursday, September 5th. They issued a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.