Lloyds Banking Group PLC (NYSE:LYG) Cut to Hold at Zacks Investment Research

Lloyds Banking Group PLC (NYSE:LYG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday, September 23rd.

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. Keefe, Bruyette & Woods cut Lloyds Banking Group PLC from a “market perform” rating to an “underperform” rating in a report on Wednesday, May 31st. ValuEngine cut Lloyds Banking Group PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of Lloyds Banking Group PLC in a report on Wednesday, September 6th. Finally, BidaskClub cut Lloyds Banking Group PLC from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Six research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.00.

Lloyds Banking Group PLC (NYSE LYG) opened at 3.66 on Friday. The stock’s 50 day moving average price is $3.41 and its 200 day moving average price is $3.50. The firm has a market capitalization of $58.26 billion, a price-to-earnings ratio of 32.68 and a beta of 0.76. Lloyds Banking Group PLC has a 52-week low of $2.56 and a 52-week high of $3.87.

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Several large investors have recently made changes to their positions in LYG. Schafer Cullen Capital Management Inc. purchased a new position in shares of Lloyds Banking Group PLC during the first quarter valued at approximately $101,000. Northwestern Mutual Wealth Management Co. boosted its position 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 buying an additional 215 shares during the period. CAPROCK Group Inc. boosted its position 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 buying an additional 7,632 shares during the period. Private Advisor Group LLC boosted its position in shares of Lloyds Banking Group PLC by 199.6% during the first quarter. Private Advisor Group LLC now owns 42,947 shares of the financial services provider’s stock valued at $121,000 after buying an additional 28,612 shares during the period. Finally, Signaturefd LLC purchased a new position in shares of Lloyds Banking Group PLC during the first quarter valued at approximately $125,000. Institutional investors and hedge funds own 2.11% of the company’s stock.

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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