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

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 equities research analysts have also recently weighed in on LYG. Goldman Sachs Group restated a sell rating on shares of Lloyds Banking Group in a research note on Wednesday, September 6th. Credit Suisse Group upgraded Lloyds Banking Group from a neutral rating to an outperform rating in a research note on Tuesday, October 10th. UBS restated a buy rating on shares of Lloyds Banking Group in a research note on Wednesday, November 29th. Macquarie cut Lloyds Banking Group from a neutral rating to an underperform rating in a research note on Wednesday, November 29th. Finally, BNP Paribas upgraded Lloyds Banking Group from an underperform rating to a neutral rating in a research note on Monday. Seven investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Lloyds Banking Group presently has an average rating of Hold and an average target price of $4.00.

Shares of Lloyds Banking Group (LYG) traded up $0.02 during midday trading on Wednesday, hitting $3.66. The company had a trading volume of 3,122,900 shares, compared to its average volume of 5,604,952. The company has a quick ratio of 1.39, a current ratio of 1.38 and a debt-to-equity ratio of 1.79. The stock has a market cap of $65,490.30, a PE ratio of 6.74 and a beta of 0.76. Lloyds Banking Group has a 1 year low of $3.06 and a 1 year high of $3.87.

A number of institutional investors have recently added to or reduced their stakes in LYG. Mondrian Investment Partners LTD increased its holdings in shares of Lloyds Banking Group by 6.4% in the third quarter. Mondrian Investment Partners LTD now owns 14,836,206 shares of the financial services provider’s stock valued at $54,301,000 after purchasing an additional 890,000 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of Lloyds Banking Group by 16.7% in the second quarter. Parametric Portfolio Associates LLC now owns 9,156,686 shares of the financial services provider’s stock valued at $32,323,000 after purchasing an additional 1,313,408 shares during the period. Cetera Investment Advisers acquired a new position in shares of Lloyds Banking Group in the second quarter valued at about $1,829,000. Morningstar Investment Services LLC increased its holdings in shares of Lloyds Banking Group by 15.8% in the third quarter. Morningstar Investment Services LLC now owns 219,902 shares of the financial services provider’s stock valued at $805,000 after purchasing an additional 29,942 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Lloyds Banking Group in the second quarter valued at about $323,000. Institutional investors own 2.12% of the company’s stock.

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About Lloyds Banking Group

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.

Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

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