Lloyds Banking Group PLC (NYSE:LYG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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 research analysts have also weighed in on LYG. Beaufort Securities reaffirmed a “buy” rating on shares of Lloyds Banking Group PLC in a research report on Wednesday, August 3rd. Investec raised Lloyds Banking Group PLC from a “hold” rating to a “buy” rating in a research report on Thursday, August 25th. Citigroup Inc. reaffirmed a “sell” rating on shares of Lloyds Banking Group PLC in a research report on Wednesday, August 31st. Deutsche Bank AG lowered Lloyds Banking Group PLC from a “buy” rating to a “hold” rating in a research report on Monday, September 5th. Finally, Goldman Sachs Group Inc. lowered Lloyds Banking Group PLC from a “neutral” rating to a “sell” rating in a research report on Monday, September 26th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.50.

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

Lloyds Banking Group PLC (NYSE:LYG) opened at 2.87 on Tuesday. Lloyds Banking Group PLC has a 12 month low of $2.47 and a 12 month high of $4.58. The stock has a market cap of $43.63 billion, a PE ratio of 42.21 and a beta of 1.33. The stock’s 50 day moving average price is $2.83 and its 200-day moving average price is $3.16.

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Institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its position in Lloyds Banking Group PLC by 28.5% in the third quarter. Fisher Asset Management LLC now owns 107,409,120 shares of the financial services provider’s stock valued at $308,264,000 after buying an additional 23,821,430 shares during the period. Macquarie Group Ltd. increased its position in Lloyds Banking Group PLC by 30.8% in the second quarter. Macquarie Group Ltd. now owns 33,137,686 shares of the financial services provider’s stock valued at $98,419,000 after buying an additional 7,810,110 shares during the period. Mondrian Investment Partners LTD increased its position in Lloyds Banking Group PLC by 75.9% in the second quarter. Mondrian Investment Partners LTD now owns 8,876,966 shares of the financial services provider’s stock valued at $26,365,000 after buying an additional 3,828,969 shares during the period. Ngam Advisors L.P. increased its position in Lloyds Banking Group PLC by 101.9% in the second quarter. Ngam Advisors L.P. now owns 3,006,009 shares of the financial services provider’s stock valued at $8,928,000 after buying an additional 1,517,443 shares during the period. Finally, Raymond James & Associates increased its position in Lloyds Banking Group PLC by 34.5% in the second quarter. Raymond James & Associates now owns 4,661,315 shares of the financial services provider’s stock valued at $13,844,000 after buying an additional 1,195,317 shares during the period. Institutional investors own 1.68% 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.

5 Day Chart for NYSE:LYG

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