Zacks Investment Research Lowers Lloyds Banking Group PLC (LYG) to Hold
Lloyds Banking Group PLC (NYSE:LYG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
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 analysts have also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) reissued a “sell” rating on shares of Lloyds Banking Group PLC in a research report on Wednesday, September 6th. Credit Suisse Group raised Lloyds Banking Group PLC from a “neutral” rating to an “outperform” rating in a research report on Tuesday, October 10th. Finally, BidaskClub cut Lloyds Banking Group PLC from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Six research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Lloyds Banking Group PLC has a consensus rating of “Hold” and an average target price of $4.00.
Shares of Lloyds Banking Group PLC (NYSE:LYG) opened at $3.53 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.39 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $62,410.00, a price-to-earnings ratio of 6.57 and a beta of 0.75. Lloyds Banking Group PLC has a 52-week low of $2.86 and a 52-week high of $3.87.
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A number of institutional investors and hedge funds have recently modified their holdings of LYG. Dimensional Fund Advisors LP lifted its position in Lloyds Banking Group PLC by 18.7% during 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 acquiring an additional 1,697,943 shares during the period. Bank of Montreal Can lifted its position in Lloyds Banking Group PLC by 9.0% during the 2nd quarter. Bank of Montreal Can now owns 45,681 shares of the financial services provider’s stock worth $161,000 after acquiring an additional 3,790 shares during the period. Aperio Group LLC lifted its position in Lloyds Banking Group PLC by 11.5% during the 2nd quarter. Aperio Group LLC now owns 1,392,676 shares of the financial services provider’s stock worth $4,916,000 after acquiring an additional 143,176 shares during the period. US Bancorp DE lifted its position in Lloyds Banking Group PLC by 30.0% during the 2nd quarter. US Bancorp DE now owns 365,410 shares of the financial services provider’s stock worth $1,290,000 after acquiring an additional 84,239 shares during the period. Finally, CAPROCK Group Inc. lifted its position in Lloyds Banking Group PLC by 33.1% during the 2nd quarter. CAPROCK Group Inc. now owns 30,718 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 7,632 shares during the period. 2.08% of the stock is owned by institutional investors.
About Lloyds Banking Group PLC
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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