Bard Financial Services Inc. Grows Stake in Lloyds Banking Group plc (NYSE:LYG)

Bard Financial Services Inc. lifted its position in shares of Lloyds Banking Group plc (NYSE:LYG) by 0.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,426,305 shares of the financial services provider’s stock after acquiring an additional 13,500 shares during the quarter. Bard Financial Services Inc.’s holdings in Lloyds Banking Group were worth $6,600,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its position in Lloyds Banking Group by 14.7% during the 3rd quarter. FMR LLC now owns 19,280,034 shares of the financial services provider’s stock valued at $60,154,000 after purchasing an additional 2,472,263 shares during the period. Clearbridge Investments LLC purchased a new position in Lloyds Banking Group during the second quarter valued at approximately $36,252,000. Envestnet Asset Management Inc. raised its stake in Lloyds Banking Group by 49.6% in the second quarter. Envestnet Asset Management Inc. now owns 8,577,101 shares of the financial services provider’s stock worth $23,415,000 after buying an additional 2,841,956 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Lloyds Banking Group by 58.5% during the third quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider’s stock worth $20,778,000 after buying an additional 2,456,914 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Lloyds Banking Group by 17.2% in the 2nd quarter. American Century Companies Inc. now owns 5,472,171 shares of the financial services provider’s stock valued at $14,939,000 after acquiring an additional 804,035 shares during the period. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Stock Performance

Shares of LYG traded up $0.08 during trading hours on Monday, reaching $2.77. 8,952,373 shares of the company traded hands, compared to its average volume of 11,350,644. The stock has a market capitalization of $41.97 billion, a P/E ratio of 7.10 and a beta of 1.31. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. The business has a fifty day moving average price of $2.74 and a 200-day moving average price of $2.91. 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 research firms have issued reports on LYG. The Goldman Sachs Group initiated coverage on Lloyds Banking Group in a research note on Friday, October 4th. They issued a “neutral” rating on the stock. Morgan Stanley downgraded Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.