Lloyds Banking Group (NYSE:LYG) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal” rating in a research report issued on Wednesday.
LYG has been the subject of several other reports. Macquarie lowered Lloyds Banking Group from a “neutral” rating to an “underperform” rating in a research report on Wednesday, November 29th. Zacks Investment Research lowered Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. BNP Paribas upgraded Lloyds Banking Group from an “underperform” rating to a “neutral” rating in a research report on Monday, December 11th. UBS Group restated a “buy” rating on shares of Lloyds Banking Group in a research report on Wednesday, November 29th. Finally, Credit Suisse Group upgraded Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, October 10th. Seven analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $4.00.
Lloyds Banking Group (NYSE:LYG) traded up $0.02 during trading on Wednesday, hitting $3.81. The stock had a trading volume of 695,594 shares, compared to its average volume of 3,626,500. The firm has a market cap of $67,090.00, a price-to-earnings ratio of 16.57 and a beta of 0.76. Lloyds Banking Group has a 52 week low of $3.15 and a 52 week high of $3.87.
Several institutional investors and hedge funds have recently modified their holdings of LYG. Schafer Cullen Capital Management Inc. acquired a new position in shares of Lloyds Banking Group in the 1st quarter valued at approximately $101,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Lloyds Banking Group by 0.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 28,925 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 215 shares during the period. Hollencrest Securities LLC grew its position in shares of Lloyds Banking Group by 28.5% in the 3rd quarter. Hollencrest Securities LLC now owns 36,748 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 8,156 shares during the period. Assetmark Inc. grew its position in shares of Lloyds Banking Group by 0.9% in the 2nd quarter. Assetmark Inc. now owns 35,998 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 336 shares during the period. Finally, Rehmann Capital Advisory Group grew its position in shares of Lloyds Banking Group by 5.1% in the 2nd quarter. Rehmann Capital Advisory Group now owns 35,894 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 1,747 shares during the period. Institutional investors and hedge funds own 2.11% of the company’s stock.
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Lloyds Banking Group Company Profile
Lloyds Banking Group plc is a provider of financial services to individual and business customers in the United Kingdom. The Company’s main business activities are retail and commercial banking, general insurance, and long-term savings, protection and investment. The Company’s segments are Retail, Commercial Banking, Consumer Finance, Insurance and Other.
