Lloyds Banking Group plc (NYSE:LYG) Given Average Rating of “Hold” by Analysts

Shares of Lloyds Banking Group plc (NYSE:LYG) have been given an average recommendation of “Hold” by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $2.75.

A number of research analysts have recently commented on the company. Morgan Stanley cut Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group initiated coverage on Lloyds Banking Group in a research note on Friday, October 4th. They set a “neutral” rating on the stock.

Lloyds Banking Group Trading Down 0.5 %

LYG stock opened at $3.06 on Friday. The stock’s fifty day simple moving average is $2.76 and its two-hundred day simple moving average is $2.91. Lloyds Banking Group has a 1-year low of $2.00 and a 1-year high of $3.24. The stock has a market cap of $46.29 billion, a P/E ratio of 7.83 and a beta of 1.31.

Hedge Funds Weigh In On Lloyds Banking Group

A number of institutional investors have recently added to or reduced their stakes in LYG. Clearbridge Investments LLC bought a new position in Lloyds Banking Group in the 2nd quarter worth about $36,252,000. FMR LLC increased its stake in Lloyds Banking Group by 14.7% in the 3rd quarter. FMR LLC now owns 19,280,034 shares of the financial services provider’s stock worth $60,154,000 after acquiring an additional 2,472,263 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Lloyds Banking Group by 58.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider’s stock worth $20,778,000 after acquiring an additional 2,456,914 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Lloyds Banking Group by 37.4% during the 3rd quarter. Raymond James & Associates now owns 3,416,484 shares of the financial services provider’s stock valued at $10,659,000 after buying an additional 929,478 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Lloyds Banking Group by 58.3% during the 3rd quarter. Citigroup Inc. now owns 1,703,943 shares of the financial services provider’s stock valued at $5,316,000 after buying an additional 627,592 shares in the last quarter. 2.15% of the stock is currently owned by institutional investors.

About Lloyds Banking Group

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.