Analysts Set Lloyds Banking Group plc (NYSE:LYG) PT at $2.75

Lloyds Banking Group plc (NYSE:LYG) has been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $2.75.

A number of research analysts recently issued reports on the stock. Morgan Stanley downgraded shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. Kepler Capital Markets assumed coverage on shares of Lloyds Banking Group in a research report on Thursday, September 5th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group started coverage on Lloyds Banking Group in a research report on Friday, October 4th. They issued a “neutral” rating for the company.

Lloyds Banking Group Trading Down 0.7 %

Shares of LYG stock opened at $2.70 on Tuesday. Lloyds Banking Group has a fifty-two week low of $2.00 and a fifty-two week high of $3.24. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.48 and a current ratio of 1.45. The stock has a 50 day simple moving average of $2.75 and a two-hundred day simple moving average of $2.91. The company has a market cap of $40.91 billion, a P/E ratio of 6.92 and a beta of 1.32.

Hedge Funds Weigh In On Lloyds Banking Group

Hedge funds have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC bought a new position in shares of Lloyds Banking Group in the second quarter valued at approximately $36,252,000. Envestnet Asset Management Inc. boosted its holdings in Lloyds Banking Group by 49.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,577,101 shares of the financial services provider’s stock worth $23,415,000 after acquiring an additional 2,841,956 shares during the last quarter. FMR LLC raised its holdings in shares of 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 valued at $60,154,000 after purchasing an additional 2,472,263 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Lloyds Banking Group by 58.5% during the third quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider’s stock worth $20,778,000 after purchasing an additional 2,456,914 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in Lloyds Banking Group by 25.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 5,087,379 shares of the financial services provider’s stock worth $13,889,000 after purchasing an additional 1,026,639 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Company Profile

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.