Lloyds Banking Group plc (NYSE:LYG) Receives Consensus Rating of “Hold” from Brokerages

Lloyds Banking Group plc (NYSE:LYG) has earned an average recommendation of “Hold” from the ten brokerages that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $2.75.

Several equities analysts have recently weighed in on LYG shares. Kepler Capital Markets started coverage on Lloyds Banking Group in a report on Thursday, September 5th. They issued a “hold” rating for the company. The Goldman Sachs Group started coverage on Lloyds Banking Group in a report on Friday, October 4th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley lowered Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th.

Lloyds Banking Group Trading Up 0.7 %

Shares of LYG opened at $2.72 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. Lloyds Banking Group has a 12-month low of $2.00 and a 12-month high of $3.24. The firm has a market capitalization of $41.21 billion, a PE ratio of 6.97 and a beta of 1.32. The stock’s fifty day simple moving average is $2.78 and its 200-day simple moving average is $2.91.

Hedge Funds Weigh In On Lloyds Banking Group

Several institutional investors have recently added to or reduced their stakes in LYG. JPMorgan Chase & Co. grew its holdings in Lloyds Banking Group by 58.5% during the third quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider’s stock valued at $20,778,000 after purchasing an additional 2,456,914 shares during the period. Logan Capital Management Inc. increased its holdings in Lloyds Banking Group by 4.5% in the 3rd quarter. Logan Capital Management Inc. now owns 1,059,457 shares of the financial services provider’s stock worth $3,306,000 after acquiring an additional 45,249 shares during the last quarter. Synovus Financial Corp raised its stake in Lloyds Banking Group by 95.5% in the 3rd quarter. Synovus Financial Corp now owns 115,232 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 56,296 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Lloyds Banking Group during the third quarter valued at about $262,000. Finally, World Investment Advisors LLC bought a new position in Lloyds Banking Group during the third quarter worth about $64,000. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.