Lloyds Banking Group (NYSE:LYG – Get Free Report) 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
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.
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