Maverick Capital Ltd. Purchases Shares of 450,191 Lloyds Banking Group plc (NYSE:LYG)

Maverick Capital Ltd. bought a new stake in Lloyds Banking Group plc (NYSE:LYG - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 450,191 shares of the financial services provider's stock, valued at approximately $1,405,000.

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

Lloyds Banking Group Price Performance

LYG stock traded up $0.02 during trading on Friday, reaching $2.70. 4,122,799 shares of the company were exchanged, compared to its average volume of 8,770,741. Lloyds Banking Group plc has a twelve month low of $2.00 and a twelve month high of $3.24. 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 company has a market capitalization of $41.29 billion, a price-to-earnings ratio of 6.92 and a beta of 1.35. The company has a 50-day moving average of $2.94 and a two-hundred day moving average of $2.92.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup cut Lloyds Banking Group from a "buy" rating to a "neutral" rating in a report on Monday, August 5th. The Goldman Sachs Group began coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They issued a "neutral" rating 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. Finally, Kepler Capital Markets initiated coverage on Lloyds Banking Group in a research report on Thursday, September 5th. They set a "hold" rating on the stock. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.