Zacks Investment Research upgraded shares of Lloyds Banking Group PLC (NYSE:LYG) from a sell rating to a hold rating in a report released 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 also recently issued reports about the stock. JPMorgan Chase & Co. reissued a buy rating on shares of Lloyds Banking Group PLC in a report on Monday, February 13th. HSBC Holdings plc raised shares of Lloyds Banking Group PLC from a hold rating to a buy rating in a report on Monday, February 6th. TheStreet raised shares of Lloyds Banking Group PLC from a d+ rating to a c rating in a report on Wednesday, February 22nd. Deutsche Bank AG reissued a neutral rating on shares of Lloyds Banking Group PLC in a report on Thursday, December 1st. Finally, Credit Suisse Group AG started coverage on shares of Lloyds Banking Group PLC in a report on Tuesday, November 29th. They issued a neutral rating for the company. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Lloyds Banking Group PLC currently has an average rating of Hold and an average price target of $3.50.

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Shares of Lloyds Banking Group PLC (NYSE:LYG) opened at 3.48 on Wednesday. The company has a 50-day moving average price of $3.40 and a 200-day moving average price of $3.11. Lloyds Banking Group PLC has a 12-month low of $2.47 and a 12-month high of $4.42. The firm has a market capitalization of $61.43 billion, a P/E ratio of 30.00 and a beta of 1.17.

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The business also recently disclosed a semiannual dividend, which will be paid on Friday, May 26th. Stockholders of record on Friday, April 7th will be issued a dividend of $0.0837 per share. This is an increase from Lloyds Banking Group PLC’s previous semiannual dividend of $0.05. The ex-dividend date is Wednesday, April 5th. Lloyds Banking Group PLC’s payout ratio is currently 130.00%.

Hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC increased its stake in Lloyds Banking Group PLC by 28.5% in the third quarter. Fisher Asset Management LLC now owns 107,409,120 shares of the financial services provider’s stock worth $308,264,000 after buying an additional 23,821,430 shares in the last quarter. Macquarie Group Ltd. increased its stake in Lloyds Banking Group PLC by 30.8% in the second quarter. Macquarie Group Ltd. now owns 33,137,686 shares of the financial services provider’s stock worth $98,419,000 after buying an additional 7,810,110 shares in the last quarter. Two Sigma Investments LP increased its stake in Lloyds Banking Group PLC by 941.0% in the fourth quarter. Two Sigma Investments LP now owns 1,782,960 shares of the financial services provider’s stock worth $5,527,000 after buying an additional 1,611,694 shares in the last quarter. UBS Group AG increased its stake in Lloyds Banking Group PLC by 185.4% in the third quarter. UBS Group AG now owns 1,763,804 shares of the financial services provider’s stock worth $5,062,000 after buying an additional 1,145,867 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Lloyds Banking Group PLC by 13.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,067,013 shares of the financial services provider’s stock worth $28,108,000 after buying an additional 1,076,870 shares in the last quarter. 1.69% of the stock is owned by institutional investors.

About Lloyds Banking Group PLC

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.

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