Citigroup Inc. Purchases 627,592 Shares of Lloyds Banking Group plc (NYSE:LYG)

Citigroup Inc. boosted its stake in Lloyds Banking Group plc (NYSE:LYG - Free Report) by 58.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,703,943 shares of the financial services provider's stock after purchasing an additional 627,592 shares during the period. Citigroup Inc.'s holdings in Lloyds Banking Group were worth $5,316,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley cut shares of Lloyds Banking Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, October 30th. Kepler Capital Markets began coverage on shares of Lloyds Banking Group in a research note on Thursday, September 5th. They set a "hold" rating on the stock. 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. Finally, Citigroup downgraded Lloyds Banking Group from a "buy" rating to a "neutral" rating in a report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Lloyds Banking Group currently has a consensus rating of "Hold" and an average target price of $2.75.

Lloyds Banking Group Stock Down 0.7 %

LYG stock traded down $0.02 on Monday, reaching $2.68. 20,266,456 shares of the company traded hands, compared to its average volume of 9,648,452. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 1.48. The firm has a fifty day simple moving average of $2.94 and a 200-day simple moving average of $2.92. Lloyds Banking Group plc has a one year low of $2.00 and a one year high of $3.24. The company has a market cap of $40.99 billion, a P/E ratio of 6.87 and a beta of 1.35.

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.