Lloyds Banking Group plc (NYSE:LYG) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. cut its stake in shares of Lloyds Banking Group plc (NYSE:LYG) by 10.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 72,121 shares of the financial services provider’s stock after selling 8,280 shares during the period. Freedom Investment Management Inc.’s holdings in Lloyds Banking Group were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LYG. FMR LLC increased its holdings in Lloyds Banking Group by 14.7% during the 3rd quarter. FMR LLC now owns 19,280,034 shares of the financial services provider’s stock worth $60,154,000 after purchasing an additional 2,472,263 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Lloyds Banking Group during the 2nd quarter worth approximately $36,252,000. Envestnet Asset Management Inc. increased its holdings in 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 worth $23,415,000 after purchasing an additional 2,841,956 shares during the last quarter. American Century Companies Inc. increased its holdings 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 worth $14,939,000 after purchasing an additional 804,035 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in 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 worth $13,889,000 after purchasing an additional 1,026,639 shares during the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Lloyds Banking Group Trading Up 0.7 %

NYSE:LYG opened at $2.70 on Monday. Lloyds Banking Group plc has a 12-month low of $2.00 and a 12-month high of $3.24. The firm has a market capitalization of $41.29 billion, a P/E ratio of 6.92 and a beta of 1.35. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 1.48. The business has a 50 day simple moving average of $2.94 and a 200 day simple moving average of $2.92.

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.