Lloyds Banking Group (NYSE:LYG) Stock Rating Lowered by Morgan Stanley

Morgan Stanley downgraded shares of Lloyds Banking Group (NYSE:LYG) from an overweight rating to an equal weight rating in a research report sent to investors on Wednesday, Marketbeat.com reports.

A number of other analysts have also weighed in on LYG. UBS Group reissued a “neutral” rating on shares of Lloyds Banking Group in a research note on Tuesday, July 30th. Citigroup lowered shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Kepler Capital Markets began coverage on shares of Lloyds Banking Group in a research report on Thursday, September 5th. They issued a “hold” rating on the stock. Royal Bank of Canada lowered shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group initiated coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They issued a “neutral” rating for the company. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Stock Down 1.4 %

LYG opened at $2.77 on Wednesday. The company has a market cap of $43.29 billion, a P/E ratio of 7.29 and a beta of 1.34. Lloyds Banking Group has a 12 month low of $1.90 and a 12 month high of $3.24. The business’s 50-day moving average price is $3.07 and its 200-day moving average price is $2.89. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.89.

Institutional Investors Weigh In On Lloyds Banking Group

Several institutional investors have recently modified their holdings of LYG. Brookstone Capital Management raised its position in Lloyds Banking Group by 12.1% in the 1st quarter. Brookstone Capital Management now owns 38,516 shares of the financial services provider’s stock worth $100,000 after buying an additional 4,167 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Lloyds Banking Group during the first quarter valued at approximately $87,000. Legacy Wealth Asset Management LLC boosted its holdings in Lloyds Banking Group by 3.3% in the first quarter. Legacy Wealth Asset Management LLC now owns 200,529 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 6,445 shares during the last quarter. Prosperity Consulting Group LLC grew its position in Lloyds Banking Group by 86.5% in the 1st quarter. Prosperity Consulting Group LLC now owns 87,958 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 40,783 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Lloyds Banking Group by 19.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 266,603 shares of the financial services provider’s stock valued at $691,000 after buying an additional 43,150 shares during the last quarter. 2.15% of the stock is owned by hedge funds and other institutional investors.

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.