Lloyds Banking Group (NYSE:LYG) Rating Lowered to Equal Weight at Morgan Stanley

Lloyds Banking Group (NYSE:LYG) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday, Briefing.com reports.

Other research analysts also recently issued research reports about the stock. Kepler Capital Markets initiated coverage on shares of Lloyds Banking Group in a research note on Thursday, September 5th. They issued a “hold” rating for the company. BNP Paribas raised shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. Royal Bank of Canada lowered shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 26th. UBS Group reiterated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Finally, Citigroup cut Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lloyds Banking Group currently has an average rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Price Performance

Shares of NYSE LYG opened at $2.82 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.89. The company’s 50-day moving average price is $3.07 and its 200 day moving average price is $2.90. Lloyds Banking Group has a 52 week low of $1.90 and a 52 week high of $3.24. The stock has a market cap of $44.00 billion, a price-to-earnings ratio of 7.41 and a beta of 1.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Transcend Capital Advisors LLC acquired a new position in shares of Lloyds Banking Group in the 2nd quarter valued at about $28,000. Interchange Capital Partners LLC purchased a new stake in Lloyds Banking Group during the second quarter worth approximately $28,000. Intergy Private Wealth LLC acquired a new stake in shares of Lloyds Banking Group in the second quarter worth $29,000. Susquehanna International Securities Ltd. acquired a new position in shares of Lloyds Banking Group during the 1st quarter valued at $30,000. Finally, Tcwp LLC purchased a new stake in Lloyds Banking Group during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 2.15% of the company’s stock.

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.