Zacks Investment Research upgraded shares of Lloyds Banking Group (NYSE:LYG) from a sell rating to a hold rating in a research note released on Friday morning.

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. “

A number of other research firms have also weighed in on LYG. Keefe, Bruyette & Woods raised shares of Lloyds Banking Group from an underperform rating to an outperform rating in a report on Thursday, January 24th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Lloyds Banking Group in a report on Tuesday, January 22nd. Macquarie raised shares of Lloyds Banking Group from an underperform rating to a neutral rating in a report on Thursday, October 25th. Citigroup raised shares of Lloyds Banking Group from a neutral rating to a buy rating in a report on Friday, January 4th. Finally, Goldman Sachs Group reaffirmed a sell rating on shares of Lloyds Banking Group in a report on Tuesday, January 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Lloyds Banking Group presently has an average rating of Hold and an average price target of $4.25.

LYG opened at $3.00 on Friday. The firm has a market cap of $55.31 billion, a P/E ratio of 5.45 and a beta of 0.80. Lloyds Banking Group has a twelve month low of $2.43 and a twelve month high of $4.14.

A number of hedge funds have recently made changes to their positions in LYG. Bank of New York Mellon Corp grew its holdings in Lloyds Banking Group by 4.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,053,214 shares of the financial services provider’s stock worth $3,507,000 after acquiring an additional 47,521 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Lloyds Banking Group by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 939,100 shares of the financial services provider’s stock worth $3,127,000 after acquiring an additional 58,500 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Lloyds Banking Group by 153.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 46,349 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 28,041 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Lloyds Banking Group by 1,889.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 47,752 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 45,352 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Lloyds Banking Group by 3.4% during the 2nd quarter. Northern Trust Corp now owns 24,596,675 shares of the financial services provider’s stock worth $81,907,000 after acquiring an additional 801,872 shares in the last quarter. 2.38% of the stock is owned by institutional investors.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. The company operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, and unsecured consumer lending products to personal and small business customers.

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