Lloyds Banking Group plc (NYSE:LYG) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Lloyds Banking Group plc (NYSE:LYG) by 58.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,659,629 shares of the financial services provider’s stock after buying an additional 2,456,914 shares during the period. JPMorgan Chase & Co.’s holdings in Lloyds Banking Group were worth $20,778,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Tcwp LLC acquired a new position in Lloyds Banking Group during the second quarter worth $32,000. Aletheian Wealth Advisors LLC purchased a new stake in shares of Lloyds Banking Group during the 3rd quarter worth $34,000. Angeles Investment Advisors LLC grew its stake in shares of Lloyds Banking Group by 38.6% during the 2nd quarter. Angeles Investment Advisors LLC now owns 15,290 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 4,262 shares during the period. Insigneo Advisory Services LLC purchased a new position in shares of Lloyds Banking Group in the 2nd quarter valued at about $42,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Lloyds Banking Group in the third quarter valued at about $42,000. 2.15% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group Stock Performance

Shares of LYG opened at $2.65 on Thursday. The company has a 50-day moving average of $2.74 and a two-hundred day moving average of $2.91. The stock has a market cap of $40.15 billion, a P/E ratio of 6.80 and a beta of 1.31. Lloyds Banking Group plc has a 12-month low of $2.00 and a 12-month high of $3.24. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.76.

Analyst Ratings Changes

A number of brokerages have issued reports on LYG. Morgan Stanley cut shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group initiated coverage on Lloyds Banking Group in a research note on Friday, October 4th. They issued a “neutral” rating for the company. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.75.

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.