First Trust Direct Indexing L.P. Sells 10,294 Shares of Lloyds Banking Group plc (NYSE:LYG)

First Trust Direct Indexing L.P. reduced its holdings in Lloyds Banking Group plc (NYSE:LYG) by 3.7% in the third quarter, HoldingsChannel reports. The firm owned 269,710 shares of the financial services provider’s stock after selling 10,294 shares during the period. First Trust Direct Indexing L.P.’s holdings in Lloyds Banking Group were worth $841,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates increased its holdings 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 worth $10,659,000 after purchasing an additional 929,478 shares in the last quarter. Clearbridge Investments LLC bought a new stake in Lloyds Banking Group in the second quarter worth approximately $36,252,000. First Eagle Investment Management LLC increased its holdings in Lloyds Banking Group by 9.2% in the first quarter. First Eagle Investment Management LLC now owns 4,060,740 shares of the financial services provider’s stock worth $10,517,000 after purchasing an additional 343,753 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in Lloyds Banking Group by 166.2% in the first quarter. CreativeOne Wealth LLC now owns 47,224 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 29,486 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Lloyds Banking Group by 37.9% during the second 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 in the last quarter. 2.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LYG has been the subject of several recent research reports. Citigroup downgraded Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Kepler Capital Markets initiated coverage on Lloyds Banking Group in a report on Thursday, September 5th. They set a “hold” rating for the company. BNP Paribas upgraded Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 5th. Finally, Morgan Stanley downgraded Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Lloyds Banking Group has a consensus rating of “Hold” and an average price target of $2.75.

Lloyds Banking Group Trading Up 1.5 %

Shares of Lloyds Banking Group stock opened at $2.79 on Friday. The stock has a fifty day simple moving average of $3.05 and a 200 day simple moving average of $2.90. Lloyds Banking Group plc has a 12-month low of $1.98 and a 12-month high of $3.24. The company has a market capitalization of $42.88 billion, a P/E ratio of 7.15 and a beta of 1.34. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.76.

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.