Lloyds Banking Group PLC (LYG) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Lloyds Banking Group PLC (NYSE:LYG) from a buy rating to a hold rating in a research note issued to investors on Saturday, September 2nd.

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 equities analysts have also recently issued reports about the company. Deutsche Bank AG upgraded Lloyds Banking Group PLC from a hold rating to a buy rating in a research note on Monday, May 15th. ValuEngine upgraded Lloyds Banking Group PLC from a hold rating to a buy rating in a research note on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) restated a sell rating on shares of Lloyds Banking Group PLC in a research note on Wednesday, May 24th. BidaskClub cut Lloyds Banking Group PLC from a hold rating to a sell rating in a research note on Thursday, June 22nd. Finally, Keefe, Bruyette & Woods cut Lloyds Banking Group PLC from a market perform rating to an underperform rating in a research note on Wednesday, May 31st. Six investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $3.75.

Shares of Lloyds Banking Group PLC (NYSE:LYG) traded down 0.28% during trading on Friday, hitting $3.53. 4,217,964 shares of the stock were exchanged. The company has a market cap of $56.19 billion, a price-to-earnings ratio of 32.69 and a beta of 0.76. Lloyds Banking Group PLC has a 12-month low of $2.56 and a 12-month high of $3.87. The firm has a 50 day moving average of $3.41 and a 200-day moving average of $3.50.

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The firm also recently declared a None dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, August 11th will be issued a dividend of $0.052 per share. This represents a dividend yield of 2.98%. This is a positive change from Lloyds Banking Group PLC’s previous None dividend of $0.05. The ex-dividend date of this dividend is Wednesday, August 9th. Lloyds Banking Group PLC’s dividend payout ratio (DPR) is 100.00%.

Institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Lloyds Banking Group PLC by 0.7% during the second 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. Schafer Cullen Capital Management Inc. acquired a new position in shares of Lloyds Banking Group PLC during the first quarter valued at $101,000. CAPROCK Group Inc. increased its holdings in shares of Lloyds Banking Group PLC by 33.1% during the second quarter. CAPROCK Group Inc. now owns 30,718 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 7,632 shares during the period. Signaturefd LLC acquired a new position in shares of Lloyds Banking Group PLC during the first quarter valued at $125,000. Finally, Advisor Partners LLC increased its holdings in shares of Lloyds Banking Group PLC by 107.8% during the second quarter. Advisor Partners LLC now owns 38,591 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 20,020 shares during the period. 2.11% of the stock is currently owned by institutional investors.

Lloyds Banking Group PLC 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.

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Analyst Recommendations for Lloyds Banking Group PLC (NYSE:LYG)

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