Brokerages Set Lloyds Banking Group plc (NYSE:LYG) Price Target at $2.75

Shares of Lloyds Banking Group plc (NYSE:LYG) have earned a consensus recommendation of “Hold” from the ten research firms that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $2.75.

A number of brokerages have recently issued reports on LYG. Morgan Stanley downgraded Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lowered Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 26th. UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a research note on Tuesday, July 30th. Citigroup cut shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Lloyds Banking Group in a research report on Friday, October 4th. They issued a “neutral” rating on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Clearbridge Investments LLC bought a new position in Lloyds Banking Group in the 2nd quarter valued at $36,252,000. Envestnet Asset Management Inc. boosted its holdings in Lloyds Banking Group by 49.6% in the second quarter. Envestnet Asset Management Inc. now owns 8,577,101 shares of the financial services provider’s stock valued at $23,415,000 after acquiring an additional 2,841,956 shares during the last quarter. FMR LLC increased its position in Lloyds Banking Group by 14.7% in the third quarter. FMR LLC now owns 19,280,034 shares of the financial services provider’s stock worth $60,154,000 after purchasing an additional 2,472,263 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Lloyds Banking Group by 195.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,833,546 shares of the financial services provider’s stock worth $7,339,000 after purchasing an additional 1,875,688 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of Lloyds Banking Group by 114.5% during the second quarter. Raymond James & Associates now owns 2,487,006 shares of the financial services provider’s stock worth $6,790,000 after buying an additional 1,327,589 shares during the last quarter. 2.15% of the stock is owned by institutional investors.

Lloyds Banking Group Stock Up 0.4 %

Shares of LYG opened at $2.75 on Monday. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average price of $3.02 and a two-hundred day moving average price of $2.91. The stock has a market cap of $42.27 billion, a price-to-earnings ratio of 7.08 and a beta of 1.35. Lloyds Banking Group has a 12 month low of $2.00 and a 12 month high of $3.24.

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.