Lloyds Banking Group (NYSE:LYG) Lowered to Sell at Goldman Sachs Group

Lloyds Banking Group (NYSE:LYG) was downgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a report released on Thursday, The Fly reports.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Lloyds Banking Group from a “sell” rating to a “hold” rating in a research report on Thursday. Deutsche Bank lowered shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Davy Research upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, May 28th. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from a “market perform” rating to an “underperform” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lowered shares of Lloyds Banking Group from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $3.75.

LYG opened at $2.58 on Thursday. The firm has a market cap of $45.37 billion, a P/E ratio of 7.82 and a beta of 1.04. The firm has a 50-day moving average of $2.45 and a 200 day moving average of $2.93. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.49 and a current ratio of 1.49. Lloyds Banking Group has a fifty-two week low of $2.30 and a fifty-two week high of $3.46.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.12 earnings per share for the quarter. The firm had revenue of $5.99 billion during the quarter. Lloyds Banking Group had a net margin of 23.57% and a return on equity of 15.86%. Equities research analysts predict that Lloyds Banking Group will post 0.36 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. EP Wealth Advisors LLC raised its stake in shares of Lloyds Banking Group by 43.7% during the second quarter. EP Wealth Advisors LLC now owns 21,894 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 6,653 shares in the last quarter. Atria Investments LLC boosted its holdings in Lloyds Banking Group by 14.7% in the second quarter. Atria Investments LLC now owns 47,815 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 6,130 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Lloyds Banking Group in the second quarter valued at $101,000. Cresset Asset Management LLC boosted its holdings in Lloyds Banking Group by 51.0% in the second quarter. Cresset Asset Management LLC now owns 70,734 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 23,896 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its holdings in Lloyds Banking Group by 8.8% in the second quarter. Vestmark Advisory Solutions Inc. now owns 88,037 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 7,151 shares in the last quarter. Hedge funds and other institutional investors own 2.01% of the company’s stock.

About Lloyds Banking Group

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. It operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.

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