Zacks Investment Research upgraded shares of Lloyds Banking Group PLC (NYSE:LYG) from a hold rating to a buy rating in a report published on Saturday, August 26th. The brokerage currently has $3.75 price target on the financial services provider’s stock.
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. “
LYG has been the topic of several other research reports. Goldman Sachs Group, Inc. (The) reissued a sell rating on shares of Lloyds Banking Group PLC in a research note on Monday, May 8th. Deutsche Bank AG raised shares of Lloyds Banking Group PLC from a hold rating to a buy rating in a research note on Monday, May 15th. 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. ValuEngine raised shares of Lloyds Banking Group PLC from a hold rating to a buy rating in a research report on Tuesday, June 27th. Finally, Sanford C. Bernstein reaffirmed an underperform rating on shares of Lloyds Banking Group PLC in a research report on Tuesday, May 9th. Six investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Lloyds Banking Group PLC currently has an average rating of Hold and an average target price of $3.75.
Lloyds Banking Group PLC (LYG) traded up 2.37% on Friday, hitting $3.45. The stock had a trading volume of 2,519,518 shares. The firm has a market capitalization of $54.92 billion, a price-to-earnings ratio of 31.94 and a beta of 0.76. Lloyds Banking Group PLC has a 1-year low of $2.56 and a 1-year high of $3.87. The company’s 50 day moving average is $3.43 and its 200-day moving average is $3.50.
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The business also recently disclosed 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. The ex-dividend date is Wednesday, August 9th. 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. Lloyds Banking Group PLC’s dividend payout ratio is currently 100.00%.
Several institutional investors and hedge funds have recently bought and sold shares of LYG. Boston Partners acquired a new stake in shares of Lloyds Banking Group PLC in the 1st quarter worth about $185,356,000. Fisher Asset Management LLC raised its holdings in shares of 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 during the last quarter. Advisors Capital Management LLC acquired a new stake in shares of Lloyds Banking Group PLC in the 2nd quarter worth about $9,665,000. UBS Group AG grew its position in Lloyds Banking Group PLC by 140.5% in the 1st quarter. UBS Group AG now owns 3,461,477 shares of the financial services provider’s stock worth $11,769,000 after purchasing an additional 2,022,109 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position 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 purchasing an additional 1,697,943 shares in the last quarter. Institutional investors own 2.12% 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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