Citigroup Inc. Buys 627,592 Shares of Lloyds Banking Group plc (NYSE:LYG)

Citigroup Inc. raised its holdings in shares of Lloyds Banking Group plc (NYSE:LYG) by 58.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,703,943 shares of the financial services provider’s stock after acquiring an additional 627,592 shares during the quarter. Citigroup Inc.’s holdings in Lloyds Banking Group were worth $5,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Clearbridge Investments LLC acquired a new stake in Lloyds Banking Group during the 2nd quarter valued at $36,252,000. Envestnet Asset Management Inc. lifted its stake in shares of Lloyds Banking Group by 49.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,577,101 shares of the financial services provider’s stock valued at $23,415,000 after acquiring an additional 2,841,956 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Lloyds Banking Group by 17.2% in the second quarter. American Century Companies Inc. now owns 5,472,171 shares of the financial services provider’s stock worth $14,939,000 after purchasing an additional 804,035 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Lloyds Banking Group by 25.3% in the second 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 during the period. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Lloyds Banking Group by 0.4% in 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 purchasing an additional 18,494 shares during the period. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Stock Up 0.7 %

Shares of Lloyds Banking Group stock opened at $2.70 on Monday. The company’s 50 day moving average price is $2.94 and its 200-day moving average price is $2.92. The stock has a market capitalization of $41.29 billion, a price-to-earnings ratio of 6.92 and a beta of 1.35. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.48 and a current ratio of 1.45. Lloyds Banking Group plc has a 52-week low of $2.00 and a 52-week high of $3.24.

Analyst Ratings Changes

LYG has been the subject of a number of recent research reports. Kepler Capital Markets started coverage on shares of Lloyds Banking Group in a research note on Thursday, September 5th. They set a “hold” rating for the company. Citigroup cut Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Morgan Stanley lowered shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group initiated coverage on shares of Lloyds Banking Group in a report on Friday, October 4th. They issued a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.75.

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.