Lockheed Martin Investment Management Co. Lowers Stock Holdings in Lloyds Banking Group plc (NYSE:LYG)

Lockheed Martin Investment Management Co. trimmed its holdings in Lloyds Banking Group plc (NYSE:LYG) by 16.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 264,000 shares of the financial services provider’s stock after selling 50,680 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Lloyds Banking Group were worth $718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LYG. JPMorgan Chase & Co. lifted its holdings in shares of Lloyds Banking Group by 58.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider’s stock worth $20,778,000 after acquiring an additional 2,456,914 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Lloyds Banking Group in the 3rd quarter valued at $1,035,000. US Bancorp DE increased 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 buying an additional 202,862 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Lloyds Banking Group by 20.6% in the 3rd 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. Finally, Raymond James & Associates grew its position in Lloyds Banking Group by 37.4% during 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 acquiring an additional 929,478 shares during the period. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Analyst Ratings Changes

Separately, Morgan Stanley cut Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Stock Performance

LYG stock opened at $3.06 on Wednesday. The stock has a 50-day simple moving average of $2.78 and a 200-day simple moving average of $2.91. The firm has a market cap of $46.29 billion, a P/E ratio of 7.83 and a beta of 1.31. Lloyds Banking Group plc has a 1 year low of $2.00 and a 1 year high of $3.24.

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.