Lloyds Banking Group plc (NYSE:LYG) Shares Purchased by Wallace Advisory Group LLC

Wallace Advisory Group LLC lifted its stake in Lloyds Banking Group plc (NYSE:LYG) by 93.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,709 shares of the financial services provider’s stock after acquiring an additional 19,654 shares during the period. Wallace Advisory Group LLC’s holdings in Lloyds Banking Group were worth $111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in Lloyds Banking Group by 22.8% in the second quarter. Bank of New York Mellon Corp now owns 648,513 shares of the financial services provider’s stock worth $1,770,000 after purchasing an additional 120,257 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Lloyds Banking Group by 6.5% in the second quarter. Commonwealth Equity Services LLC now owns 144,252 shares of the financial services provider’s stock valued at $394,000 after buying an additional 8,758 shares during the period. Private Advisor Group LLC boosted its stake in Lloyds Banking Group by 12.6% during the second quarter. Private Advisor Group LLC now owns 211,658 shares of the financial services provider’s stock valued at $578,000 after buying an additional 23,659 shares in the last quarter. Choreo LLC grew its holdings in Lloyds Banking Group by 503.4% during the second quarter. Choreo LLC now owns 67,857 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 56,611 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Lloyds Banking Group by 17.2% in the 2nd quarter. American Century Companies Inc. now owns 5,472,171 shares of the financial services provider’s stock valued at $14,939,000 after acquiring an additional 804,035 shares during the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Stock Performance

Shares of LYG opened at $2.66 on Wednesday. The company has a 50-day moving average of $2.72 and a two-hundred day moving average of $2.91. The stock has a market cap of $40.31 billion, a price-to-earnings ratio of 6.82 and a beta of 1.31. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 1.48. Lloyds Banking Group plc has a one year low of $2.00 and a one year high of $3.24.

Wall Street Analysts Forecast Growth

LYG has been the topic of several recent research reports. Morgan Stanley cut shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group began coverage on 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. Based on data from MarketBeat, Lloyds Banking Group currently has a consensus rating of “Hold” and an average target price 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.