Baron Wealth Management LLC Sells 4,528 Shares of Lloyds Banking Group plc (NYSE:LYG)

Baron Wealth Management LLC trimmed its stake in Lloyds Banking Group plc (NYSE:LYG) by 26.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,323 shares of the financial services provider’s stock after selling 4,528 shares during the period. Baron Wealth Management LLC’s holdings in Lloyds Banking Group were worth $34,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Clearbridge Investments LLC purchased a new stake in shares of Lloyds Banking Group during the second quarter valued at about $36,252,000. FMR LLC lifted its position in Lloyds Banking Group by 14.7% during the third quarter. FMR LLC now owns 19,280,034 shares of the financial services provider’s stock valued at $60,154,000 after acquiring an additional 2,472,263 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Lloyds Banking Group by 58.5% in the third quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider’s stock valued at $20,778,000 after acquiring an additional 2,456,914 shares in the last quarter. Raymond James & Associates grew its holdings in Lloyds Banking Group by 37.4% in the third quarter. Raymond James & Associates now owns 3,416,484 shares of the financial services provider’s stock worth $10,659,000 after purchasing an additional 929,478 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Lloyds Banking Group by 58.3% during the 3rd quarter. Citigroup Inc. now owns 1,703,943 shares of the financial services provider’s stock valued at $5,316,000 after purchasing an additional 627,592 shares during the last quarter. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley lowered Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. 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 for the company. 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 company has a consensus rating of “Hold” and an average price target of $2.75.

Lloyds Banking Group Trading Down 0.5 %

Shares of NYSE:LYG opened at $3.06 on Thursday. Lloyds Banking Group plc has a twelve month low of $2.00 and a twelve month high of $3.24. The company has a market cap of $46.29 billion, a PE ratio of 7.83 and a beta of 1.31. The company’s 50 day moving average is $2.76 and its 200 day moving average is $2.91.

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.