Lloyds Banking Group plc (NYSE:LYG) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Lloyds Banking Group plc (NYSE:LYG - Free Report) by 58.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,659,629 shares of the financial services provider's stock after purchasing an additional 2,456,914 shares during the quarter. JPMorgan Chase & Co.'s holdings in Lloyds Banking Group were worth $20,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in Lloyds Banking Group during the 3rd quarter worth $1,035,000. US Bancorp DE lifted its stake in shares of Lloyds Banking Group by 36.6% during the third quarter. US Bancorp DE now owns 757,336 shares of the financial services provider's stock worth $2,363,000 after purchasing an additional 202,862 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Lloyds Banking Group by 20.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,055,584 shares of the financial services provider's stock worth $3,293,000 after buying an additional 180,178 shares during the period. Raymond James & Associates raised its holdings in shares of Lloyds Banking Group by 37.4% during the 3rd quarter. Raymond James & Associates now owns 3,416,484 shares of the financial services provider's stock valued at $10,659,000 after buying an additional 929,478 shares during the period. Finally, Citigroup Inc. lifted its position in 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 worth $5,316,000 after acquiring an additional 627,592 shares in the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Lloyds Banking Group Stock Down 3.6 %

LYG stock traded down $0.10 during mid-day trading on Thursday, hitting $2.65. 12,359,958 shares of the company were exchanged, compared to its average volume of 13,134,391. The firm has a fifty day simple moving average of $2.74 and a 200 day simple moving average of $2.91. The company has a market capitalization of $40.15 billion, a PE ratio of 6.80 and a beta of 1.31. Lloyds Banking Group plc has a twelve month low of $2.00 and a twelve month high of $3.24. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.76.

Wall Street Analyst Weigh In

Several analysts have issued reports on LYG shares. Morgan Stanley downgraded shares of Lloyds Banking Group from an "overweight" rating to an "equal weight" rating in a research 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 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 has an average rating of "Hold" and an average target price 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.