Apollon Wealth Management LLC Cuts Stake in Lloyds Banking Group plc (NYSE:LYG)

Apollon Wealth Management LLC reduced its holdings in shares of Lloyds Banking Group plc (NYSE:LYG) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,295 shares of the financial services provider’s stock after selling 16,645 shares during the quarter. Apollon Wealth Management LLC’s holdings in Lloyds Banking Group were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYG. Clearbridge Investments LLC bought a new position in Lloyds Banking Group in the second quarter valued at about $36,252,000. Envestnet Asset Management Inc. grew its position in shares of Lloyds Banking Group by 49.6% during the second 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 in the last quarter. American Century Companies Inc. grew 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 valued at $14,939,000 after buying an additional 804,035 shares in the last quarter. First Eagle Investment Management LLC grew 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 valued at $13,889,000 after buying an additional 1,026,639 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in Lloyds Banking Group by 0.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,894,063 shares of the financial services provider’s stock valued at $15,269,000 after buying an additional 18,494 shares in the last quarter. 2.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LYG shares. Morgan Stanley lowered Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Citigroup lowered Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. UBS Group reiterated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Kepler Capital Markets started coverage on Lloyds Banking Group in a research note on Thursday, September 5th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group assumed coverage on Lloyds Banking Group in a research note on Friday, October 4th. They set a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.75.

Lloyds Banking Group Trading Up 2.5 %

LYG opened at $2.83 on Monday. Lloyds Banking Group plc has a 52 week low of $2.00 and a 52 week high of $3.24. The business has a fifty day simple moving average of $3.00 and a 200-day simple moving average of $2.92. The firm has a market cap of $43.50 billion, a P/E ratio of 7.26 and a beta of 1.35. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.76.

Lloyds Banking Group Company 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.