Lloyds Banking Group plc (NYSE:LYG) Stock Holdings Lessened by Franklin Resources Inc.

Franklin Resources Inc. cut its stake in shares of Lloyds Banking Group plc (NYSE:LYG) by 30.2% during the third quarter, HoldingsChannel.com reports. The firm owned 1,085,483 shares of the financial services provider’s stock after selling 469,911 shares during the period. Franklin Resources Inc.’s holdings in Lloyds Banking Group were worth $3,376,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Synovus Financial Corp raised its position in Lloyds Banking Group by 95.5% during the third quarter. Synovus Financial Corp now owns 115,232 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 56,296 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Lloyds Banking Group during the 3rd quarter valued at $262,000. World Investment Advisors LLC acquired a new stake in shares of Lloyds Banking Group in the 3rd quarter valued at $64,000. Sanctuary Advisors LLC boosted its holdings in Lloyds Banking Group by 118.4% in the third quarter. Sanctuary Advisors LLC now owns 198,087 shares of the financial services provider’s stock worth $618,000 after purchasing an additional 107,395 shares in the last quarter. Finally, Virtu Financial LLC increased its position in Lloyds Banking Group by 325.7% during the third quarter. Virtu Financial LLC now owns 184,829 shares of the financial services provider’s stock worth $577,000 after buying an additional 141,409 shares during the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Lloyds Banking Group Stock Up 0.4 %

Shares of LYG opened at $2.72 on Wednesday. The firm has a market capitalization of $41.21 billion, a price-to-earnings ratio of 6.97 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 debt-to-equity ratio of 1.76, a quick ratio of 1.48 and a current ratio of 1.45. The business’s fifty day moving average price is $2.82 and its two-hundred day moving average price is $2.91.

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.