Baron Wealth Management LLC Buys 3,969 Shares of Lloyds Banking Group plc (NYSE:LYG)

Baron Wealth Management LLC grew its stake in Lloyds Banking Group plc (NYSE:LYG) by 30.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,851 shares of the financial services provider’s stock after purchasing an additional 3,969 shares during the period. Baron Wealth Management LLC’s holdings in Lloyds Banking Group were worth $53,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Transcend Capital Advisors LLC bought a new position in Lloyds Banking Group during the 2nd quarter valued at about $28,000. Interchange Capital Partners LLC bought a new position in shares of Lloyds Banking Group during the second quarter valued at approximately $28,000. Intergy Private Wealth LLC purchased a new stake in shares of Lloyds Banking Group in the second quarter worth approximately $29,000. Tcwp LLC bought a new stake in shares of Lloyds Banking Group during the 2nd quarter worth approximately $32,000. Finally, Aletheian Wealth Advisors LLC purchased a new position in Lloyds Banking Group during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup downgraded Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Kepler Capital Markets initiated coverage on shares of Lloyds Banking Group in a report on Thursday, September 5th. They set a “hold” rating for the company. The Goldman Sachs Group started coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They issued a “neutral” rating on the stock. UBS Group reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a research note on Tuesday, July 30th. Finally, Morgan Stanley downgraded Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Price Performance

NYSE LYG opened at $2.79 on Wednesday. The company has a market cap of $42.67 billion, a PE ratio of 7.15 and a beta of 1.35. Lloyds Banking Group plc has a 52-week low of $2.00 and a 52-week high of $3.24. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.48 and a current ratio of 1.45. The firm’s 50 day moving average price is $3.00 and its 200-day moving average price is $2.92.

Lloyds Banking Group 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.