Lloyds Banking Group plc (NYSE:LYG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Lloyds Banking Group plc (NYSE:LYG) have been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $2.75.

Several research firms recently issued reports on LYG. The Goldman Sachs Group began coverage on Lloyds Banking Group in a research report on Friday, October 4th. They set a “neutral” rating on the stock. Morgan Stanley lowered Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th.

Lloyds Banking Group Trading Down 0.5 %

Shares of NYSE LYG opened at $3.06 on Friday. The stock has a market cap of $46.29 billion, a price-to-earnings ratio of 7.83 and a beta of 1.31. Lloyds Banking Group has a 1-year low of $2.00 and a 1-year high of $3.24. The stock’s 50-day moving average is $2.76 and its 200 day moving average is $2.91.

Institutional Investors Weigh In On Lloyds Banking Group

Several hedge funds have recently made changes to their positions in LYG. Allspring Global Investments Holdings LLC raised its stake in Lloyds Banking Group by 11.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 117,838 shares of the financial services provider’s stock valued at $316,000 after buying an additional 12,543 shares during the last quarter. Marks Group Wealth Management Inc raised its stake in Lloyds Banking Group by 18.8% during the fourth quarter. Marks Group Wealth Management Inc now owns 210,113 shares of the financial services provider’s stock valued at $572,000 after buying an additional 33,205 shares during the last quarter. New Republic Capital LLC purchased a new position in Lloyds Banking Group during the fourth quarter valued at $54,000. Stephens Inc. AR raised its stake in Lloyds Banking Group by 3.0% during the fourth quarter. Stephens Inc. AR now owns 157,627 shares of the financial services provider’s stock valued at $429,000 after buying an additional 4,553 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its stake in Lloyds Banking Group by 2.8% during the fourth quarter. Apollon Wealth Management LLC now owns 122,641 shares of the financial services provider’s stock valued at $334,000 after buying an additional 3,346 shares during the last quarter. 2.15% of the stock is currently owned by institutional investors.

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.