Assetmark Inc. Has $62,000 Holdings in Lloyds Banking Group plc (NYSE:LYG)

Assetmark Inc. cut its holdings in shares of Lloyds Banking Group plc (NYSE:LYG) by 24.2% in the third quarter, Holdings Channel reports. The institutional investor owned 19,877 shares of the financial services provider’s stock after selling 6,356 shares during the quarter. Assetmark Inc.’s holdings in Lloyds Banking Group were worth $62,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Clearbridge Investments LLC acquired a new stake in shares of Lloyds Banking Group in the second quarter valued at $36,252,000. Envestnet Asset Management Inc. increased its stake in shares of 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 valued at $23,415,000 after buying an additional 2,841,956 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Lloyds Banking Group by 17.2% in the second quarter. American Century Companies Inc. now owns 5,472,171 shares of the financial services provider’s stock valued at $14,939,000 after buying an additional 804,035 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Lloyds Banking Group by 25.3% in the second quarter. First Eagle Investment Management LLC now owns 5,087,379 shares of the financial services provider’s stock valued at $13,889,000 after buying an additional 1,026,639 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of 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 in the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LYG shares. Morgan Stanley downgraded Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Lloyds Banking Group in a research report on Friday, October 4th. They issued a “neutral” rating for the company. Citigroup cut shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada cut shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 26th. 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.com, the stock has an average rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Price Performance

Shares of NYSE LYG opened at $2.83 on Tuesday. The firm’s 50-day moving average price is $3.00 and its 200-day moving average price is $2.92. Lloyds Banking Group plc has a 1-year low of $2.00 and a 1-year high of $3.24. The firm has a market capitalization of $43.42 billion, a P/E ratio of 7.24 and a beta of 1.35. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.76.

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.