Lloyds Banking Group (NYSE:LYG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “
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Several other analysts have also weighed in on LYG. JPMorgan Chase & Co. reissued a “buy” rating on shares of Lloyds Banking Group in a report on Tuesday, January 22nd. Keefe, Bruyette & Woods raised Lloyds Banking Group from an “underperform” rating to an “outperform” rating in a report on Thursday, January 24th. Goldman Sachs Group reissued a “sell” rating on shares of Lloyds Banking Group in a report on Wednesday, December 26th. Macquarie raised Lloyds Banking Group from an “underperform” rating to a “neutral” rating in a report on Thursday, October 25th. Finally, Citigroup raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Friday, January 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $4.25.
Shares of NYSE:LYG opened at $3.03 on Friday. Lloyds Banking Group has a 1-year low of $2.43 and a 1-year high of $4.06. The company has a market cap of $53.77 billion, a PE ratio of 5.51 and a beta of 0.80.
A number of hedge funds have recently made changes to their positions in LYG. Lavaca Capital LLC acquired a new stake in Lloyds Banking Group in the 4th quarter valued at $28,000. Berkeley Capital Partners LLC acquired a new stake in Lloyds Banking Group in the 4th quarter valued at $48,000. Legacy Financial Advisors Inc. boosted its stake in Lloyds Banking Group by 2,344.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 23,447 shares of the financial services provider’s stock valued at $60,000 after buying an additional 22,488 shares in the last quarter. Cypress Wealth Services LLC acquired a new stake in Lloyds Banking Group in the 4th quarter valued at $67,000. Finally, Park National Corp OH boosted its stake in Lloyds Banking Group by 24.2% in the 4th quarter. Park National Corp OH now owns 31,856 shares of the financial services provider’s stock valued at $82,000 after buying an additional 6,201 shares in the last quarter. 2.38% of the stock is currently 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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