Lloyds Banking Group PLC (NYSE:LYG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Lloyds Banking Group plc, formerly Lloyds TSB Group plc, is a United Kingdom-based financial services company, whose businesses provide a range of banking and financial services in the United Kingdom and a limited number of locations overseas. Headquartered in London, the company operates through three segments: UK Retail Banking, Insurance and Investments, and Wholesale and International Banking. The UK Retail Banking segment provides banking and financial services, mortgages, and private banking services. The Insurance and Investments segment offers life assurance, pensions and savings products, general insurance, and fund management services. The Wholesale and International Banking segment provides banking and related services for companies, small and medium-sized businesses, banks, and financial institutions; and asset finance to personal and corporate customers. “

Other research analysts have also recently issued research reports about the stock. Investec raised shares of Lloyds Banking Group PLC from a “hold” rating to a “buy” rating in a report on Thursday, August 25th. Beaufort Securities reissued a “buy” rating on shares of Lloyds Banking Group PLC in a report on Wednesday, August 3rd. Deutsche Bank AG reissued a “buy” rating on shares of Lloyds Banking Group PLC in a report on Sunday, June 26th. Barclays PLC cut shares of Lloyds Banking Group PLC from an “overweight” rating to an “equal weight” rating in a report on Monday, June 27th. Finally, Berenberg Bank raised shares of Lloyds Banking Group PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Lloyds Banking Group PLC has an average rating of “Hold” and an average price target of GBX 79.06 ($1.03).

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Lloyds Banking Group PLC (NYSE:LYG) traded up 2.35% on Wednesday, reaching $3.05. 3,015,918 shares of the company traded hands. The stock has a market capitalization of $44.24 billion, a PE ratio of 28.24 and a beta of 1.02. Lloyds Banking Group PLC has a one year low of $2.47 and a one year high of $4.85. The firm has a 50 day moving average of $3.03 and a 200-day moving average of $3.54.

The business also recently disclosed a dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Friday, August 12th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, August 10th. Lloyds Banking Group PLC’s dividend payout ratio (DPR) is 92.86%.

Several hedge funds have recently made changes to their positions in LYG. Renaissance Technologies LLC boosted its position in shares of Lloyds Banking Group PLC by 83.1% in the first quarter. Renaissance Technologies LLC now owns 4,902,600 shares of the financial services provider’s stock worth $19,365,000 after buying an additional 2,224,500 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Lloyds Banking Group PLC by 43.4% in the first quarter. Geode Capital Management LLC now owns 267,682 shares of the financial services provider’s stock worth $1,057,000 after buying an additional 81,065 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Lloyds Banking Group PLC by 13.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,661,827 shares of the financial services provider’s stock worth $14,464,000 after buying an additional 442,869 shares in the last quarter. UBS Group AG boosted its position in shares of Lloyds Banking Group PLC by 3.8% in the first quarter. UBS Group AG now owns 519,987 shares of the financial services provider’s stock worth $2,054,000 after buying an additional 19,243 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Lloyds Banking Group PLC by 38.0% in the first quarter. M&T Bank Corp now owns 99,529 shares of the financial services provider’s stock worth $393,000 after buying an additional 27,395 shares in the last quarter. 1.65% of the stock is owned by institutional investors.

Lloyds Banking Group PLC Company Profile

LLOYDS BANKING GROUP plc provides financial services to individual and business customers in the United Kingdom but also overseas. The Company’s business activities include retail and commercial banking, long-term savings, protection and investment. It operates through its segments, including Retail, Commercial Banking, Consumer Finance and Insurance.

5 Day Chart for NYSE:LYG

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