Brookstone Capital Management Grows Holdings in Lloyds Banking Group plc (NYSE:LYG)

Brookstone Capital Management grew its stake in shares of Lloyds Banking Group plc (NYSE:LYG) by 29.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,910 shares of the financial services provider’s stock after purchasing an additional 10,981 shares during the quarter. Brookstone Capital Management’s holdings in Lloyds Banking Group were worth $133,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Aletheian Wealth Advisors LLC bought a new position in shares of Lloyds Banking Group during the 3rd quarter worth $34,000. Arkadios Wealth Advisors purchased a new stake in Lloyds Banking Group in the third quarter worth about $42,000. OneAscent Financial Services LLC bought a new position in Lloyds Banking Group during the 3rd quarter worth about $46,000. Insigneo Advisory Services LLC purchased a new position in Lloyds Banking Group during the 2nd quarter valued at about $42,000. Finally, Baron Wealth Management LLC raised its holdings 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 valued at $53,000 after purchasing an additional 3,969 shares in the last quarter. 2.15% of the stock is currently owned by institutional investors.

Lloyds Banking Group Price Performance

Shares of NYSE LYG opened at $2.86 on Monday. The stock has a market capitalization of $43.26 billion, a price-to-earnings ratio of 7.32 and a beta of 1.31. The firm’s 50 day simple moving average is $2.73 and its 200-day simple moving average is $2.91. Lloyds Banking Group plc has a 12 month low of $2.00 and a 12 month high of $3.24.

Analyst Ratings Changes

LYG has been the subject of a number of analyst reports. Morgan Stanley cut 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 report 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 assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.