Lloyds Banking Group PLC (NYSE:LYG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “Lloyds Banking Group plc, formerly Lloyds TSB Group plc, is a United Kingdom-based financial services company, whose businesses provide a range of banking and financial services in the United Kingdom and a limited number of locations overseas. Headquartered in London, the company operates through three segments: UK Retail Banking, Insurance and Investments, and Wholesale and International Banking. The UK Retail Banking segment provides banking and financial services, mortgages, and private banking services. The Insurance and Investments segment offers life assurance, pensions and savings products, general insurance, and fund management services. The Wholesale and International Banking segment provides banking and related services for companies, small and medium-sized businesses, banks, and financial institutions; and asset finance to personal and corporate customers. “

A number of other analysts also recently issued reports on the company. Berenberg Bank raised Lloyds Banking Group PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Beaufort Securities restated a “buy” rating on shares of Lloyds Banking Group PLC in a research report on Wednesday, August 3rd. Goldman Sachs Group Inc. cut Lloyds Banking Group PLC from a “neutral” rating to a “sell” rating in a research report on Monday, September 26th. Davy Research restated an “outperform” rating on shares of Lloyds Banking Group PLC in a research report on Thursday, October 27th. Finally, Citigroup Inc. restated a “sell” rating on shares of Lloyds Banking Group PLC in a research report on Wednesday, August 31st. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of GBX 46.75 ($0.58).

Analyst Recommendations for Lloyds Banking Group PLC (NYSE:LYG)

Lloyds Banking Group PLC (NYSE:LYG) opened at 3.02 on Tuesday. The firm has a market cap of $45.91 billion, a PE ratio of 41.94 and a beta of 1.33. Lloyds Banking Group PLC has a one year low of $2.47 and a one year high of $4.58. The company’s 50-day moving average is $2.81 and its 200 day moving average is $3.21.

Several hedge funds and other institutional investors have recently bought and sold shares of LYG. Hollencrest Securities LLC increased its position in Lloyds Banking Group PLC by 28.5% in the third quarter. Hollencrest Securities LLC now owns 36,748 shares of the financial services provider’s stock valued at $105,000 after buying an additional 8,156 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in Lloyds Banking Group PLC by 5.1% in the second quarter. Rehmann Capital Advisory Group now owns 35,894 shares of the financial services provider’s stock worth $107,000 after buying an additional 1,747 shares during the period. Assetmark Inc. increased its stake in Lloyds Banking Group PLC by 0.9% in the second quarter. Assetmark Inc. now owns 35,998 shares of the financial services provider’s stock worth $107,000 after buying an additional 336 shares during the period. Eqis Capital Management Inc. increased its stake in Lloyds Banking Group PLC by 217.8% in the third quarter. Eqis Capital Management Inc. now owns 48,232 shares of the financial services provider’s stock worth $138,000 after buying an additional 33,056 shares during the period. Finally, IPG Investment Advisors LLC acquired a new stake in Lloyds Banking Group PLC during the third quarter worth $138,000. Institutional investors own 1.72% of the company’s stock.

About Lloyds Banking Group PLC

LLOYDS BANKING GROUP plc provides financial services to individual and business customers in the United Kingdom but also overseas. The Company’s business activities include retail and commercial banking, long-term savings, protection and investment. It operates through its segments, including Retail, Commercial Banking, Consumer Finance and Insurance.

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