Independent Advisor Alliance Increases Stock Holdings in Lloyds Banking Group plc (NYSE:LYG)

Independent Advisor Alliance boosted its position in shares of Lloyds Banking Group plc (NYSE:LYG) by 8.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,629 shares of the financial services provider’s stock after purchasing an additional 5,628 shares during the period. Independent Advisor Alliance’s holdings in Lloyds Banking Group were worth $223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. US Bancorp DE grew its holdings in shares of Lloyds Banking Group by 36.6% during the 3rd 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 during the period. Raymond James & Associates lifted its position in Lloyds Banking Group by 37.4% in the third 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 last quarter. Oppenheimer Asset Management Inc. boosted its stake in Lloyds Banking Group by 22.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,022,677 shares of the financial services provider’s stock worth $3,191,000 after buying an additional 186,443 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Lloyds Banking Group during the second quarter valued at about $36,252,000. Finally, CWM LLC raised its stake in shares of Lloyds Banking Group by 37.9% in the 2nd quarter. CWM LLC now owns 71,039 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 19,525 shares during the period. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Lloyds Banking Group Price Performance

Shares of NYSE LYG opened at $2.70 on Friday. The stock’s 50-day moving average is $2.94 and its two-hundred day moving average is $2.92. 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 cap of $41.22 billion, a price-to-earnings ratio of 6.91 and a beta of 1.35. Lloyds Banking Group plc has a 1-year low of $2.00 and a 1-year high of $3.24.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Lloyds Banking Group in a research report on Friday, October 4th. They set a “neutral” rating for the company. Morgan Stanley lowered Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Citigroup downgraded Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Finally, Kepler Capital Markets initiated coverage on shares of 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 given a buy rating to the stock. Based on data from MarketBeat, Lloyds Banking Group 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.