Townsquare Capital LLC Has $4.74 Million Position in Lloyds Banking Group plc (NYSE:LYG)

Townsquare Capital LLC boosted its stake in Lloyds Banking Group plc (NYSE:LYG) by 36.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,518,111 shares of the financial services provider’s stock after acquiring an additional 402,998 shares during the quarter. Townsquare Capital LLC’s holdings in Lloyds Banking Group were worth $4,737,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of Lloyds Banking Group in the 3rd quarter valued at $1,035,000. Quantbot Technologies LP acquired a new position in Lloyds Banking Group in the 3rd quarter worth about $85,000. FMR LLC raised its position in Lloyds Banking Group by 14.7% in the third 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 last quarter. Independent Advisor Alliance boosted its stake in shares of Lloyds Banking Group by 8.5% during the third quarter. Independent Advisor Alliance now owns 71,629 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 5,628 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Lloyds Banking Group by 73.3% during the third quarter. Cerity Partners LLC now owns 687,833 shares of the financial services provider’s stock worth $2,146,000 after purchasing an additional 290,927 shares during the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Price Performance

LYG stock opened at $2.68 on Friday. 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 company’s fifty day simple moving average is $2.95 and its 200 day simple moving average is $2.92. Lloyds Banking Group plc has a 12-month low of $2.00 and a 12-month high of $3.24. The firm has a market cap of $40.99 billion, a price-to-earnings ratio of 6.87 and a beta of 1.35.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley downgraded shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group started coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They issued a “neutral” rating on the stock. Citigroup lowered Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Finally, Kepler Capital Markets started coverage on Lloyds Banking Group in a research report on Thursday, September 5th. They issued a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.75.

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.