Lloyds Banking Group PLC (LYG) Upgraded to Buy by Zacks Investment Research

Lloyds Banking Group PLC (NYSE:LYG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $4.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 9.89% from the company’s current price.

According to Zacks, “Lloyds Banking Group plc, formerly Lloyds TSB Group plc, is a United Kingdom-based financial services company, whose businesses provide a range of banking and financial services in the United Kingdom and a limited number of locations overseas. Headquartered in London, the company operates through three segments: UK Retail Banking, Insurance and Investments, and Wholesale and International Banking. The UK Retail Banking segment provides banking and financial services, mortgages, and private banking services. The Insurance and Investments segment offers life assurance, pensions and savings products, general insurance, and fund management services. The Wholesale and International Banking segment provides banking and related services for companies, small and medium-sized businesses, banks, and financial institutions; and asset finance to personal and corporate customers. “

LYG has been the subject of several other reports. BidaskClub lowered Lloyds Banking Group PLC from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. ValuEngine raised Lloyds Banking Group PLC from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Goldman Sachs Group Inc reissued a “sell” rating on shares of Lloyds Banking Group PLC in a report on Wednesday, September 6th. Finally, Keefe, Bruyette & Woods lowered Lloyds Banking Group PLC from a “market perform” rating to an “underperform” rating in a report on Wednesday, May 31st. Six research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Lloyds Banking Group PLC currently has an average rating of “Hold” and a consensus target price of $4.00.

Lloyds Banking Group PLC (NYSE LYG) opened at 3.565 on Tuesday. Lloyds Banking Group PLC has a 1-year low of $2.56 and a 1-year high of $3.87. The company’s 50-day moving average price is $3.41 and its 200-day moving average price is $3.50. The stock has a market cap of $56.75 billion, a P/E ratio of 31.830 and a beta of 0.76.

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Several large investors have recently bought and sold shares of the company. Fisher Asset Management LLC grew its holdings in shares of Lloyds Banking Group PLC by 12.8% during the second quarter. Fisher Asset Management LLC now owns 116,593,046 shares of the financial services provider’s stock valued at $411,573,000 after purchasing an additional 13,255,507 shares during the last quarter. Mondrian Investment Partners LTD grew its holdings in shares of Lloyds Banking Group PLC by 10.2% during the second quarter. Mondrian Investment Partners LTD now owns 13,946,206 shares of the financial services provider’s stock valued at $49,230,000 after purchasing an additional 1,291,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lloyds Banking Group PLC by 18.7% during the first quarter. Dimensional Fund Advisors LP now owns 10,764,956 shares of the financial services provider’s stock valued at $36,601,000 after purchasing an additional 1,697,943 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Lloyds Banking Group PLC by 16.7% during the second quarter. Parametric Portfolio Associates LLC now owns 9,156,686 shares of the financial services provider’s stock valued at $32,323,000 after purchasing an additional 1,313,408 shares during the last quarter. Finally, Causeway Capital Management LLC grew its holdings in shares of Lloyds Banking Group PLC by 4.7% during the first quarter. Causeway Capital Management LLC now owns 4,312,717 shares of the financial services provider’s stock valued at $14,663,000 after purchasing an additional 192,637 shares during the last quarter. 2.11% of the stock is owned by institutional investors.

About Lloyds Banking Group PLC

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 PLC (NYSE:LYG)

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