Diversify Wealth Management LLC Sells 3,609 Shares of Lloyds Banking Group plc (NYSE:LYG)

Diversify Wealth Management LLC reduced its stake in shares of Lloyds Banking Group plc (NYSE:LYG) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,340 shares of the financial services provider’s stock after selling 3,609 shares during the quarter. Diversify Wealth Management LLC’s holdings in Lloyds Banking Group were worth $96,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LYG. Aletheian Wealth Advisors LLC bought a new position in shares of Lloyds Banking Group in the 3rd quarter valued at about $34,000. Arkadios Wealth Advisors acquired a new stake in Lloyds Banking Group during the 3rd quarter worth $42,000. OneAscent Financial Services LLC bought a new stake in shares of Lloyds Banking Group during the 3rd quarter valued at $46,000. Insigneo Advisory Services LLC acquired a new position in shares of Lloyds Banking Group in the 2nd quarter valued at $42,000. Finally, Baron Wealth Management LLC boosted its position in shares of Lloyds Banking Group by 30.8% in the 3rd quarter. Baron Wealth Management LLC now owns 16,851 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 3,969 shares during the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LYG. Morgan Stanley lowered Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group assumed coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They set a “neutral” rating on the stock. Seven research 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 company has a consensus rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Stock Performance

Shares of LYG opened at $3.08 on Friday. The stock has a 50 day simple moving average of $2.74 and a 200 day simple moving average of $2.91. Lloyds Banking Group plc has a 52-week low of $2.00 and a 52-week high of $3.24. The firm has a market capitalization of $46.59 billion, a PE ratio of 7.88 and a beta of 1.31.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $10.41 billion during the quarter. Lloyds Banking Group had a net margin of 10.89% and a return on equity of 9.81%. During the same period in the prior year, the company earned $0.10 EPS. Equities research analysts predict that Lloyds Banking Group plc will post 0.33 EPS for the current fiscal year.

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.