Baron Wealth Management LLC Sells 4,528 Shares of Lloyds Banking Group plc (NYSE:LYG)

Baron Wealth Management LLC cut its holdings in Lloyds Banking Group plc (NYSE:LYG) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,323 shares of the financial services provider’s stock after selling 4,528 shares during the period. Baron Wealth Management LLC’s holdings in Lloyds Banking Group were worth $34,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Hsbc Holdings PLC raised its position in Lloyds Banking Group by 110.1% during the second quarter. Hsbc Holdings PLC now owns 169,014 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 88,569 shares during the period. Sei Investments Co. raised its holdings in Lloyds Banking Group by 26.6% during the 2nd quarter. Sei Investments Co. now owns 840,209 shares of the financial services provider’s stock valued at $2,294,000 after buying an additional 176,464 shares during the period. Bank of Montreal Can lifted its position in Lloyds Banking Group by 126.6% in the second quarter. Bank of Montreal Can now owns 140,574 shares of the financial services provider’s stock worth $395,000 after buying an additional 78,530 shares during the last quarter. AQR Capital Management LLC boosted its stake in Lloyds Banking Group by 323.3% during the second quarter. AQR Capital Management LLC now owns 136,599 shares of the financial services provider’s stock worth $373,000 after buying an additional 104,326 shares during the period. Finally, Ascent Group LLC increased its position in Lloyds Banking Group by 71.3% during the second quarter. Ascent Group LLC now owns 51,912 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 21,612 shares during the last quarter. Institutional investors own 2.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group started coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They set a “neutral” rating for the company. Morgan Stanley cut Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Stock Performance

Shares of NYSE:LYG opened at $3.06 on Thursday. The firm’s 50 day simple moving average is $2.76 and its 200-day simple moving average is $2.91. Lloyds Banking Group plc has a one year low of $2.00 and a one year high of $3.24. The firm has a market cap of $46.29 billion, a PE ratio of 7.83 and a beta of 1.31.

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.