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

Financial Advocates Investment Management raised its holdings in shares of Lloyds Banking Group plc (NYSE:LYG) by 18.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 69,271 shares of the financial services provider’s stock after buying an additional 10,723 shares during the period. Financial Advocates Investment Management’s holdings in Lloyds Banking Group were worth $188,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Lazari Capital Management Inc. grew its stake in shares of Lloyds Banking Group by 19.8% during the 3rd quarter. Lazari Capital Management Inc. now owns 20,391 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 3,371 shares in the last quarter. Sequoia Financial Advisors LLC grew 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 valued at $204,000 after buying an additional 3,734 shares in the last quarter. Brio Consultants LLC grew its stake in shares of Lloyds Banking Group by 30.2% in the fourth quarter. Brio Consultants LLC now owns 16,735 shares of the financial services provider’s stock valued at $46,000 after buying an additional 3,880 shares in the last quarter. Baron Wealth Management LLC grew its stake in shares of Lloyds Banking Group by 30.8% in the third quarter. Baron Wealth Management LLC now owns 16,851 shares of the financial services provider’s stock valued at $53,000 after buying an additional 3,969 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of Lloyds Banking Group by 4.7% in the third quarter. Dynamic Advisor Solutions LLC now owns 97,258 shares of the financial services provider’s stock valued at $303,000 after buying an additional 4,337 shares in the last quarter. 2.15% of the stock is owned by institutional investors.

Lloyds Banking Group Price Performance

LYG stock opened at $3.10 on Tuesday. The company has a fifty day moving average price of $2.82 and a two-hundred day moving average price of $2.91. Lloyds Banking Group plc has a one year low of $2.00 and a one year high of $3.24. The stock has a market cap of $46.90 billion, a price-to-earnings ratio of 7.94 and a beta of 1.31.

Analysts Set New Price Targets

Separately, 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. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.