Lloyds Banking Group plc (NYSE:LYG) Receives $2.75 Average Price Target from Analysts

Lloyds Banking Group plc (NYSE:LYG) has been given a consensus recommendation of “Hold” by the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $2.75.

Several brokerages recently issued reports on LYG. The Goldman Sachs Group began 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 Trading of Lloyds Banking Group

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in Lloyds Banking Group by 22.8% during the second quarter. Bank of New York Mellon Corp now owns 648,513 shares of the financial services provider’s stock valued at $1,770,000 after acquiring an additional 120,257 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Lloyds Banking Group by 121.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 74,351 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 40,799 shares during the period. Rothschild Investment LLC acquired a new stake in Lloyds Banking Group during the 2nd quarter worth approximately $35,000. Commonwealth Equity Services LLC raised its holdings in Lloyds Banking Group by 6.5% in the second quarter. Commonwealth Equity Services LLC now owns 144,252 shares of the financial services provider’s stock valued at $394,000 after buying an additional 8,758 shares during the period. Finally, Aptus Capital Advisors LLC acquired a new position in Lloyds Banking Group during the second quarter valued at approximately $37,000. 2.15% of the stock is owned by hedge funds and other institutional investors.

Lloyds Banking Group Price Performance

NYSE:LYG opened at $2.75 on Tuesday. Lloyds Banking Group has a 12-month low of $2.00 and a 12-month high of $3.24. The firm has a market cap of $41.67 billion, a price-to-earnings ratio of 7.05 and a beta of 1.31. The company’s 50-day moving average is $2.74 and its two-hundred day moving average is $2.91. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.76.

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.