Lloyds Banking Group (NYSE:LYG) Lowered to “Hold” Rating by Wall Street Zen

Lloyds Banking Group (NYSE:LYG) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other research analysts also recently issued reports about the company. Berenberg Bank began coverage on Lloyds Banking Group in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. UBS Group raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings downgraded Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a report on Tuesday. Finally, Citigroup reissued a “buy” rating on shares of Lloyds Banking Group in a research report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Stock Up 0.1%

Shares of NYSE LYG opened at $6.07 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.09. The firm has a market cap of $88.70 billion, a PE ratio of 13.78, a P/E/G ratio of 0.61 and a beta of 0.87. The company’s fifty day simple moving average is $5.45 and its 200 day simple moving average is $5.45. Lloyds Banking Group has a 12-month low of $4.05 and a 12-month high of $6.34.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.13 earnings per share for the quarter. The firm had revenue of $6.87 billion for the quarter. Lloyds Banking Group had a net margin of 25.11% and a return on equity of 10.63%. As a group, sell-side analysts forecast that Lloyds Banking Group will post 0.53 earnings per share for the current fiscal year.

Institutional Trading of Lloyds Banking Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in shares of Lloyds Banking Group by 17.6% in the first quarter. Parallel Advisors LLC now owns 70,747 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 10,590 shares in the last quarter. Glenmede Trust Co. NA raised its position in Lloyds Banking Group by 156.5% in the 1st quarter. Glenmede Trust Co. NA now owns 313,887 shares of the financial services provider’s stock valued at $1,579,000 after buying an additional 191,523 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Lloyds Banking Group by 30.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 109,264 shares of the financial services provider’s stock valued at $550,000 after acquiring an additional 25,222 shares in the last quarter. Royal Bank of Canada boosted its holdings in Lloyds Banking Group by 12.0% during the 1st quarter. Royal Bank of Canada now owns 1,202,823 shares of the financial services provider’s stock worth $6,050,000 after acquiring an additional 128,775 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Lloyds Banking Group by 18.4% during the 1st quarter. Empowered Funds LLC now owns 301,065 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 46,738 shares during the last quarter. 2.15% of the stock is owned by hedge funds and other institutional investors.

About Lloyds Banking Group

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.