ValuEngine Downgrades Lloyds Banking Group (NYSE:LYG) to Sell

Lloyds Banking Group (NYSE:LYG) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday, ValuEngine reports.

Several other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Lloyds Banking Group from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Citigroup lowered Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 22nd. Redburn Partners lowered Lloyds Banking Group to a “hold” rating in a research note on Friday, January 10th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Lloyds Banking Group in a research note on Monday, December 16th. Finally, Credit Suisse Group began coverage on Lloyds Banking Group in a research note on Tuesday. They set a “neutral” rating for the company. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $3.50.

Shares of LYG stock opened at $2.92 on Thursday. The business has a 50-day moving average price of $3.09 and a two-hundred day moving average price of $2.86. Lloyds Banking Group has a 12-month low of $2.30 and a 12-month high of $3.58. The firm has a market cap of $52.15 billion, a P/E ratio of 10.81 and a beta of 1.11.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its stake in shares of Lloyds Banking Group by 4.2% in the 3rd quarter. Raymond James Trust N.A. now owns 87,680 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 3,529 shares during the last quarter. Patton Albertson Miller Group LLC lifted its stake in shares of Lloyds Banking Group by 35.8% in the 4th quarter. Patton Albertson Miller Group LLC now owns 16,300 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 4,300 shares during the last quarter. Eaton Vance Management lifted its stake in shares of Lloyds Banking Group by 3.4% in the 4th quarter. Eaton Vance Management now owns 138,415 shares of the financial services provider’s stock valued at $458,000 after acquiring an additional 4,580 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Lloyds Banking Group by 25.8% in the 4th quarter. Synovus Financial Corp now owns 24,631 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 5,047 shares during the last quarter. Finally, AE Wealth Management LLC lifted its stake in shares of Lloyds Banking Group by 48.0% in the 4th quarter. AE Wealth Management LLC now owns 16,168 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 5,242 shares during the last quarter. 1.92% of the stock is owned by institutional investors.

About Lloyds Banking Group

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. It 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, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.

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Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

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