Lloyds Banking Group plc (NYSE:LYG) Given Consensus Recommendation of “Hold” by Brokerages

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

Several equities analysts recently issued reports on LYG shares. The Goldman Sachs Group started coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They set a “neutral” rating on the stock. Morgan Stanley cut Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its holdings in shares of Lloyds Banking Group by 2.8% in the 4th quarter. Apollon Wealth Management LLC now owns 122,641 shares of the financial services provider’s stock worth $334,000 after purchasing an additional 3,346 shares during the period. Lazari Capital Management Inc. lifted its position in Lloyds Banking Group by 19.8% during the third quarter. Lazari Capital Management Inc. now owns 20,391 shares of the financial services provider’s stock valued at $64,000 after buying an additional 3,371 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Lloyds Banking Group by 6.1% during the third quarter. Sequoia Financial Advisors LLC now owns 65,320 shares of the financial services provider’s stock worth $204,000 after buying an additional 3,734 shares during the period. Brio Consultants LLC increased its position in shares of Lloyds Banking Group by 30.2% in the fourth quarter. Brio Consultants LLC now owns 16,735 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 3,880 shares in the last quarter. Finally, Baron Wealth Management LLC lifted its holdings in shares of Lloyds Banking Group by 30.8% during the 3rd quarter. Baron Wealth Management LLC now owns 16,851 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 3,969 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Trading Down 1.5 %

Shares of LYG stock opened at $3.05 on Friday. The company has a market capitalization of $46.14 billion, a price-to-earnings ratio of 7.81 and a beta of 1.31. The firm has a 50-day moving average price of $2.77 and a 200 day moving average price of $2.91. Lloyds Banking Group has a twelve month low of $2.00 and a twelve month high of $3.24.

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.