Brokerages Set Lloyds Banking Group plc (NYSE:LYG) Price Target at $2.75

Shares of Lloyds Banking Group plc (NYSE:LYG) have been given an average rating of “Hold” by the ten research firms that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $2.75.

Several equities research analysts have issued reports on the stock. Kepler Capital Markets assumed coverage on shares of Lloyds Banking Group in a research report on Thursday, September 5th. They set a “hold” rating for the company. Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 26th. UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. Citigroup downgraded shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group began coverage on shares of Lloyds Banking Group in a research report on Friday, October 4th. They issued a “neutral” rating for the company.

Lloyds Banking Group Trading Down 1.2 %

Lloyds Banking Group stock opened at $3.17 on Thursday. Lloyds Banking Group has a 52 week low of $1.88 and a 52 week high of $3.22. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.48 and a current ratio of 1.45. The stock has a market capitalization of $49.54 billion, a P/E ratio of 8.34 and a beta of 1.34. The stock has a 50-day simple moving average of $3.07 and a 200 day simple moving average of $2.88.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter. The firm had revenue of $9.55 billion during the quarter. Lloyds Banking Group had a net margin of 12.40% and a return on equity of 10.34%. Analysts expect that Lloyds Banking Group will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LYG. Virtu Financial LLC acquired a new position in Lloyds Banking Group during the fourth quarter valued at approximately $327,000. Goldman Sachs Group Inc. raised its position in Lloyds Banking Group by 5.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 22,166,362 shares of the financial services provider’s stock valued at $52,978,000 after purchasing an additional 1,180,775 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Lloyds Banking Group during the fourth quarter valued at approximately $97,000. HighPoint Advisor Group LLC acquired a new position in Lloyds Banking Group during the fourth quarter valued at approximately $113,000. Finally, CWM LLC raised its position in Lloyds Banking Group by 133.4% during the first quarter. CWM LLC now owns 51,514 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 29,444 shares in the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.

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.