Lloyds Banking Group PLC (NYSE:LYG) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Lloyds Banking Group PLC (NYSE:LYG) from a buy rating to a hold rating in a research note released 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. “

A number of other brokerages have also recently issued reports on LYG. Goldman Sachs Group, Inc. (The) reiterated a sell rating on shares of Lloyds Banking Group PLC in a research note on Wednesday, May 24th. Deutsche Bank AG upgraded shares of Lloyds Banking Group PLC from a hold rating to a buy rating in a research note on Monday, May 15th. ValuEngine cut shares of Lloyds Banking Group PLC from a buy rating to a hold rating in a research note on Friday, June 2nd. BidaskClub cut shares of Lloyds Banking Group PLC from a sell rating to a strong sell rating in a research note on Wednesday, August 2nd. Finally, Sanford C. Bernstein restated an underperform rating on shares of Lloyds Banking Group PLC in a research note on Tuesday, May 9th. Six 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 stock has an average rating of Hold and an average target price of $3.75.

Lloyds Banking Group PLC (NYSE:LYG) traded down 0.56% on Friday, hitting $3.54. 2,223,158 shares of the company were exchanged. The stock has a market capitalization of $56.35 billion, a P/E ratio of 32.78 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. The company has a 50 day moving average price of $3.41 and a 200-day moving average price of $3.50.

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The company also recently announced a None dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, August 11th will be issued a $0.052 dividend. This represents a 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 is Wednesday, August 9th. Lloyds Banking Group PLC’s dividend payout ratio is currently 100.00%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its holdings in Lloyds Banking Group PLC by 12.8% in the 2nd quarter. Fisher Asset Management LLC now owns 116,593,046 shares of the financial services provider’s stock worth $411,573,000 after acquiring an additional 13,255,507 shares in the last quarter. Mondrian Investment Partners LTD increased its holdings in Lloyds Banking Group PLC by 10.2% in the 2nd quarter. Mondrian Investment Partners LTD now owns 13,946,206 shares of the financial services provider’s stock worth $49,230,000 after acquiring an additional 1,291,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Lloyds Banking Group PLC by 18.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,764,956 shares of the financial services provider’s stock worth $36,601,000 after acquiring an additional 1,697,943 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Lloyds Banking Group PLC by 16.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 9,156,686 shares of the financial services provider’s stock worth $32,323,000 after acquiring an additional 1,313,408 shares in the last quarter. Finally, Causeway Capital Management LLC increased its holdings in Lloyds Banking Group PLC by 4.7% in the 1st quarter. Causeway Capital Management LLC now owns 4,312,717 shares of the financial services provider’s stock worth $14,663,000 after acquiring an additional 192,637 shares in the last quarter. 2.12% of the stock is owned by institutional investors.

About Lloyds Banking Group PLC

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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