Lloyds Banking Group plc (NYSE:LYG) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp grew its stake in shares of Lloyds Banking Group plc (NYSE:LYG) by 95.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,232 shares of the financial services provider’s stock after acquiring an additional 56,296 shares during the quarter. Synovus Financial Corp’s holdings in Lloyds Banking Group were worth $360,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Lloyds Banking Group during the 3rd quarter valued at $262,000. World Investment Advisors LLC purchased a new stake in Lloyds Banking Group during the third quarter valued at about $64,000. Sanctuary Advisors LLC increased its stake in Lloyds Banking Group by 118.4% during the third quarter. Sanctuary Advisors LLC now owns 198,087 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 107,395 shares during the last quarter. Virtu Financial LLC raised its holdings in shares of Lloyds Banking Group by 325.7% in the 3rd quarter. Virtu Financial LLC now owns 184,829 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 141,409 shares during the period. Finally, Rehmann Capital Advisory Group lifted its stake in shares of Lloyds Banking Group by 18.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 34,888 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 5,386 shares in the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group Price Performance

LYG stock opened at $2.68 on Thursday. Lloyds Banking Group plc has a 52-week low of $2.00 and a 52-week high of $3.24. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $40.61 billion, a PE ratio of 6.87 and a beta of 1.32. The stock’s 50 day moving average is $2.85 and its two-hundred day moving average is $2.92.

Analysts Set New Price Targets

Several research firms recently commented on LYG. Kepler Capital Markets began coverage on shares of Lloyds Banking Group in a report on Thursday, September 5th. They issued a “hold” rating on the stock. Morgan Stanley cut Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group began coverage on Lloyds Banking Group in a report on Friday, October 4th. They set a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.75.

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.