Lloyds Banking Group (LYG) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Lloyds Banking Group (NYSE:LYG) from a sell rating to a hold rating in a research note issued to investors on Thursday.

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. “

Several other research analysts have also commented on the company. Citigroup upgraded Lloyds Banking Group from a neutral rating to a buy rating in a research report on Friday, January 4th. Goldman Sachs Group restated a sell rating on shares of Lloyds Banking Group in a research report on Thursday, December 20th. Macquarie upgraded Lloyds Banking Group from an underperform rating to a neutral rating in a research report on Thursday, October 25th. Keefe, Bruyette & Woods upgraded Lloyds Banking Group from an underperform rating to an outperform rating in a research report on Thursday, January 24th. Finally, JPMorgan Chase & Co. restated a buy rating on shares of Lloyds Banking Group in a research report on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $4.25.

Shares of LYG traded down $0.01 during midday trading on Thursday, hitting $2.94. 3,780,748 shares of the stock were exchanged, compared to its average volume of 9,338,146. Lloyds Banking Group has a 52-week low of $2.43 and a 52-week high of $4.01. The firm has a market cap of $52.97 billion, a P/E ratio of 5.35 and a beta of 1.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in Lloyds Banking Group in the third quarter valued at $10,184,000. Capital Bank & Trust Co boosted its holdings in Lloyds Banking Group by 8.5% in the third quarter. Capital Bank & Trust Co now owns 2,892,160 shares of the financial services provider’s stock valued at $8,792,000 after purchasing an additional 226,342 shares during the period. Mondrian Investment Partners LTD boosted its holdings in Lloyds Banking Group by 8.4% in the third quarter. Mondrian Investment Partners LTD now owns 16,884,206 shares of the financial services provider’s stock valued at $51,328,000 after purchasing an additional 1,308,000 shares during the period. Park National Corp OH boosted its holdings in Lloyds Banking Group by 24.2% in the fourth quarter. Park National Corp OH now owns 31,856 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 6,201 shares during the period. Finally, Cambiar Investors LLC boosted its holdings in Lloyds Banking Group by 2.9% in the third quarter. Cambiar Investors LLC now owns 40,517,017 shares of the financial services provider’s stock valued at $123,172,000 after purchasing an additional 1,152,516 shares during the period. Institutional investors and hedge funds own 1.89% of the company’s stock.

Lloyds Banking Group Company Profile

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. The company 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, and unsecured consumer lending products to personal and small business customers.

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