Lloyds Banking Group (LYG) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Lloyds Banking Group (NYSE:LYG) from a sell rating to a hold rating in a report published on Friday.

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 research analysts have also recently issued research reports about the stock. Citigroup raised shares of Lloyds Banking Group from a neutral rating to a buy rating in a research report on Friday, January 4th. Macquarie raised shares of Lloyds Banking Group from an underperform rating to a neutral rating in a research report on Thursday, October 25th. Finally, Goldman Sachs Group reaffirmed a sell rating on shares of Lloyds Banking Group in a research report on Tuesday, January 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $4.25.

LYG opened at $2.81 on Friday. Lloyds Banking Group has a twelve month low of $2.43 and a twelve month high of $4.21. The stock has a market cap of $48.83 billion, a P/E ratio of 5.11 and a beta of 0.80.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in shares of Lloyds Banking Group by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 1,053,214 shares of the financial services provider’s stock worth $3,507,000 after acquiring an additional 47,521 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Lloyds Banking Group by 332.8% in the second quarter. Private Advisor Group LLC now owns 56,289 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 43,282 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Lloyds Banking Group by 6.6% in the second quarter. Renaissance Technologies LLC now owns 939,100 shares of the financial services provider’s stock worth $3,127,000 after acquiring an additional 58,500 shares during the last quarter. BB&T Securities LLC lifted its holdings in shares of Lloyds Banking Group by 10.2% in the second quarter. BB&T Securities LLC now owns 224,192 shares of the financial services provider’s stock worth $745,000 after acquiring an additional 20,794 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Lloyds Banking Group by 153.2% in the second quarter. Cubist Systematic Strategies LLC now owns 46,349 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 28,041 shares during the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. The company operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, and unsecured consumer lending products to personal and small business customers.

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