Ritholtz Wealth Management Trims Stock Position in Lloyds Banking Group plc (NYSE:LYG)

Ritholtz Wealth Management lowered its holdings in Lloyds Banking Group plc (NYSE:LYG - Free Report) by 15.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,247,720 shares of the financial services provider's stock after selling 231,254 shares during the quarter. Ritholtz Wealth Management's holdings in Lloyds Banking Group were worth $3,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LYG. Commonwealth Equity Services LLC grew its position in Lloyds Banking Group by 6.5% during the second quarter. Commonwealth Equity Services LLC now owns 144,252 shares of the financial services provider's stock valued at $394,000 after buying an additional 8,758 shares during the period. Choreo LLC grew its position in Lloyds Banking Group by 503.4% during the second quarter. Choreo LLC now owns 67,857 shares of the financial services provider's stock valued at $189,000 after buying an additional 56,611 shares during the period. American Century Companies Inc. grew its position in Lloyds Banking Group by 17.2% during the second quarter. American Century Companies Inc. now owns 5,472,171 shares of the financial services provider's stock valued at $14,939,000 after buying an additional 804,035 shares during the period. Envestnet Asset Management Inc. grew its position in Lloyds Banking Group by 49.6% during the second quarter. Envestnet Asset Management Inc. now owns 8,577,101 shares of the financial services provider's stock valued at $23,415,000 after buying an additional 2,841,956 shares during the period. Finally, Wealth Alliance acquired a new stake in shares of Lloyds Banking Group in the second quarter valued at about $135,000. Institutional investors and hedge funds own 2.15% of the company's stock.

Lloyds Banking Group Stock Performance

Shares of NYSE:LYG traded up $0.03 during midday trading on Friday, hitting $2.86. The company's stock had a trading volume of 23,812,327 shares, compared to its average volume of 9,200,433. The business's 50 day simple moving average is $2.73 and its 200 day simple moving average is $2.91. The company has a market cap of $43.26 billion, a P/E ratio of 7.32 and a beta of 1.31. Lloyds Banking Group plc has a 12-month low of $2.00 and a 12-month high of $3.24.

Analysts Set New Price Targets

Several analysts have recently issued reports on LYG shares. The Goldman Sachs Group started coverage on shares of Lloyds Banking Group in a research report on Friday, October 4th. They issued a "neutral" rating on the stock. Morgan Stanley lowered shares of Lloyds Banking Group from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $2.75.

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.