Lloyds Banking Group (LYG) Stock Rating Lowered by Davy Research

Lloyds Banking Group (NYSE:LYG) was downgraded by stock analysts at Davy Research from an “outperform” rating to a “neutral” rating in a report released on Wednesday.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. BNP Paribas raised shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 17th. Goldman Sachs Group reissued a “sell” rating on shares of Lloyds Banking Group in a research report on Tuesday, January 9th. Deutsche Bank reissued a “buy” rating on shares of Lloyds Banking Group in a research report on Friday, February 9th. Finally, Macquarie downgraded shares of Lloyds Banking Group from a “neutral” rating to an “underperform” rating in a research report on Wednesday, November 29th. Six investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $4.00.

Shares of Lloyds Banking Group (NYSE:LYG) traded down $0.03 during trading hours on Wednesday, reaching $3.77. 817,560 shares of the company’s stock traded hands, compared to its average volume of 5,208,127. Lloyds Banking Group has a one year low of $3.15 and a one year high of $4.21. The firm has a market capitalization of $67,745.99, a P/E ratio of 16.44 and a beta of 0.80.

Institutional investors have recently added to or reduced their stakes in the business. Mondrian Investment Partners LTD boosted its holdings in Lloyds Banking Group by 6.4% in the third quarter. Mondrian Investment Partners LTD now owns 14,836,206 shares of the financial services provider’s stock worth $54,301,000 after purchasing an additional 890,000 shares during the period. Wells Fargo & Company MN lifted its stake in Lloyds Banking Group by 1.8% in the third quarter. Wells Fargo & Company MN now owns 3,221,781 shares of the financial services provider’s stock valued at $11,792,000 after buying an additional 57,289 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Lloyds Banking Group by 8.1% in the third quarter. Parametric Portfolio Associates LLC now owns 9,788,783 shares of the financial services provider’s stock valued at $35,827,000 after buying an additional 735,500 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in Lloyds Banking Group by 54.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 84,218 shares of the financial services provider’s stock valued at $306,000 after buying an additional 29,633 shares during the last quarter. Finally, BB&T Corp lifted its stake in Lloyds Banking Group by 181.5% in the fourth quarter. BB&T Corp now owns 466,210 shares of the financial services provider’s stock valued at $1,749,000 after buying an additional 300,604 shares during the last quarter. 2.33% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

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