Foster Victor Wealth Advisors LLC Trims Stake in Lloyds Banking Group plc (NYSE:LYG)

Foster Victor Wealth Advisors LLC cut its holdings in shares of Lloyds Banking Group plc (NYSE:LYG) by 29.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,259 shares of the financial services provider’s stock after selling 22,125 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Lloyds Banking Group were worth $155,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYG. FMR LLC boosted its stake 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 worth $60,154,000 after buying an additional 2,472,263 shares during the period. Clearbridge Investments LLC acquired a new position in shares of Lloyds Banking Group in the 2nd quarter worth approximately $36,252,000. JPMorgan Chase & Co. boosted its position in shares of Lloyds Banking Group by 58.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider’s stock worth $20,778,000 after purchasing an additional 2,456,914 shares during the period. Crossmark Global Holdings Inc. raised its position in Lloyds Banking Group by 0.4% in the third quarter. Crossmark Global Holdings Inc. now owns 4,894,063 shares of the financial services provider’s stock valued at $15,269,000 after purchasing an additional 18,494 shares during the period. Finally, Raymond James & Associates lifted its stake in Lloyds Banking Group by 37.4% during 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 in the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group Trading Down 0.5 %

Shares of NYSE LYG opened at $3.06 on Thursday. Lloyds Banking Group plc has a 12-month low of $2.00 and a 12-month high of $3.24. The stock has a market cap of $46.29 billion, a P/E ratio of 7.83 and a beta of 1.31. The business’s fifty day simple moving average is $2.76 and its 200-day simple moving average is $2.91.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LYG. Morgan Stanley downgraded Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group began coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They set a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.