Ritholtz Wealth Management Lowers Stock Position in Lloyds Banking Group plc (NYSE:LYG)

Ritholtz Wealth Management decreased its position in Lloyds Banking Group plc (NYSE:LYG) by 15.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,247,720 shares of the financial services provider’s stock after selling 231,254 shares during the period. Ritholtz Wealth Management’s holdings in Lloyds Banking Group were worth $3,394,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Lazari Capital Management Inc. boosted its holdings in Lloyds Banking Group by 19.8% in the 3rd quarter. Lazari Capital Management Inc. now owns 20,391 shares of the financial services provider’s stock worth $64,000 after buying an additional 3,371 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Lloyds Banking Group by 6.1% in the third quarter. Sequoia Financial Advisors LLC now owns 65,320 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 3,734 shares during the last quarter. Baron Wealth Management LLC increased its position in shares of Lloyds Banking Group by 30.8% during the third quarter. Baron Wealth Management LLC now owns 16,851 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 3,969 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in Lloyds Banking Group by 4.7% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 97,258 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 4,337 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in Lloyds Banking Group by 19.2% in the 3rd quarter. Wedmont Private Capital now owns 29,068 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 4,674 shares in the last quarter. 2.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Lloyds Banking Group Price Performance

Shares of NYSE LYG opened at $2.86 on Friday. The company has a market capitalization of $43.26 billion, a P/E ratio of 7.32 and a beta of 1.31. Lloyds Banking Group plc has a 1 year low of $2.00 and a 1 year high of $3.24. The company has a 50 day simple moving average of $2.72 and a 200-day simple moving average of $2.91.

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.