JPMorgan Chase & Co. Raises Stock Position in Lloyds Banking Group plc (NYSE:LYG)

JPMorgan Chase & Co. grew its holdings in Lloyds Banking Group plc (NYSE:LYG) by 58.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,659,629 shares of the financial services provider’s stock after purchasing an additional 2,456,914 shares during the quarter. JPMorgan Chase & Co.’s holdings in Lloyds Banking Group were worth $20,778,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC acquired a new position in shares of Lloyds Banking Group in the second quarter worth $36,252,000. Envestnet Asset Management Inc. grew its stake 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 in the last quarter. 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 period. First Eagle Investment Management LLC raised its position in Lloyds Banking Group by 25.3% in 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 purchasing an additional 1,026,639 shares in the last quarter. Finally, Raymond James & Associates grew its position in shares of Lloyds Banking Group by 37.4% during the third quarter. Raymond James & Associates now owns 3,416,484 shares of the financial services provider’s stock worth $10,659,000 after buying an additional 929,478 shares in the last quarter. 2.15% of the stock is owned by hedge funds and other institutional investors.

Lloyds Banking Group Trading Down 3.6 %

Shares of Lloyds Banking Group stock opened at $2.65 on Thursday. The company has a fifty day simple moving average of $2.74 and a 200-day simple moving average of $2.91. 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. The stock has a market cap of $40.15 billion, a price-to-earnings ratio of 6.80 and a beta of 1.31.

Wall Street Analysts Forecast Growth

LYG has been the subject of a number of recent research reports. Morgan Stanley downgraded shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group initiated coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They set a “neutral” rating for the company. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.75.

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.