Financial Advocates Investment Management Acquires 10,723 Shares of Lloyds Banking Group plc (NYSE:LYG)

Financial Advocates Investment Management grew its holdings in Lloyds Banking Group plc (NYSE:LYG) by 18.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,271 shares of the financial services provider’s stock after purchasing an additional 10,723 shares during the quarter. Financial Advocates Investment Management’s holdings in Lloyds Banking Group were worth $188,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Aletheian Wealth Advisors LLC acquired a new stake in shares of Lloyds Banking Group in the 3rd quarter valued at approximately $34,000. Brentview Investment Management LLC acquired a new stake in shares of Lloyds Banking Group in the 4th quarter valued at approximately $31,000. Simon Quick Advisors LLC acquired a new stake in shares of Lloyds Banking Group in the 4th quarter valued at approximately $35,000. Cerro Pacific Wealth Advisors LLC acquired a new stake in shares of Lloyds Banking Group in the 4th quarter valued at approximately $37,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Lloyds Banking Group in the 3rd quarter valued at approximately $42,000. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Morgan Stanley downgraded shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Lloyds Banking Group presently has an average rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Stock Performance

Shares of LYG stock opened at $3.10 on Tuesday. The company has a market capitalization of $46.90 billion, a P/E ratio of 7.94 and a beta of 1.31. The company’s 50 day moving average price is $2.82 and its two-hundred day moving average price is $2.91. Lloyds Banking Group plc has a 52 week low of $2.00 and a 52 week high of $3.24.

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.