Lloyds Banking Group (LYG) Downgraded by Davy Research to “Neutral”

Davy Research lowered shares of Lloyds Banking Group (NYSE:LYG) from an outperform rating to a neutral rating in a research report released on Wednesday, MarketBeat.com reports.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank reiterated a buy rating on shares of Lloyds Banking Group in a report on Friday, February 9th. JPMorgan Chase & Co. reiterated a buy rating on shares of Lloyds Banking Group in a report on Thursday, February 1st. UBS Group reiterated a buy rating on shares of Lloyds Banking Group in a report on Monday, December 11th. Morgan Stanley cut shares of Lloyds Banking Group from an overweight rating to an equal rating in a report on Wednesday, January 10th. Finally, Zacks Investment Research cut shares of Lloyds Banking Group from a buy rating to a hold rating in a report on Thursday, November 23rd. Six equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Lloyds Banking Group currently has a consensus rating of Hold and a consensus target price of $4.00.

Shares of Lloyds Banking Group (NYSE:LYG) opened at $3.85 on Wednesday. The stock has a market cap of $68,466.70, a price-to-earnings ratio of 16.74 and a beta of 0.80. Lloyds Banking Group has a fifty-two week low of $3.15 and a fifty-two week high of $4.21.

A number of hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its holdings in Lloyds Banking Group by 7.5% during the third quarter. Stifel Financial Corp now owns 211,366 shares of the financial services provider’s stock valued at $785,000 after acquiring an additional 14,763 shares during the period. ETRADE Capital Management LLC boosted its holdings in Lloyds Banking Group by 9.7% during the third quarter. ETRADE Capital Management LLC now owns 217,764 shares of the financial services provider’s stock valued at $797,000 after acquiring an additional 19,213 shares during the period. Private Advisor Group LLC boosted its holdings in Lloyds Banking Group by 86.5% during the third quarter. Private Advisor Group LLC now owns 43,851 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 20,336 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in Lloyds Banking Group by 144.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 35,688 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 21,084 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Lloyds Banking Group by 18.5% during the fourth quarter. First Trust Advisors LP now owns 137,241 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 21,461 shares during the period. Institutional investors own 2.33% of the company’s stock.

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About Lloyds Banking Group

Lloyds Banking Group plc is a provider of financial services to individual and business customers in the United Kingdom. The Company’s main business activities are retail and commercial banking, general insurance, and long-term savings, protection and investment. The Company’s segments are Retail, Commercial Banking, Consumer Finance, Insurance and Other.

Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

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