Trade Report: The Lloyds Banking Group PLC (LYG) Earns “Buy” Rating from Citigroup Inc.

The Lloyds Banking Group PLC (LYG) Earns “Buy” Rating from Citigroup Inc.

Citigroup Inc. reiterated their buy rating on shares of Lloyds Banking Group PLC (NYSE:LYG) in a research note issued to investors on Tuesday.

A number of other brokerages have also commented on LYG. Zacks Investment Research raised Lloyds Banking Group PLC from a sell rating to a buy rating and set a $4.75 price target on the stock in a report on Wednesday, June 22nd. Deutsche Bank AG reissued a buy rating on shares of Lloyds Banking Group PLC in a report on Thursday, June 16th. Bank of America Corp. lowered Lloyds Banking Group PLC from a neutral rating to an underperform rating in a report on Monday, June 27th. JPMorgan Chase & Co. lowered Lloyds Banking Group PLC from an overweight rating to a neutral rating in a report on Monday, June 27th. Finally, Barclays PLC lowered Lloyds Banking Group PLC from an overweight rating to an equal weight rating in a report on Monday, June 27th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of GBX 79.06 ($0.98).

Lloyds Banking Group PLC (NYSE:LYG) opened at 2.62 on Tuesday. The firm has a market cap of $38.00 billion, a P/E ratio of 25.19 and a beta of 1.09. The company has a 50-day moving average of $2.98 and a 200 day moving average of $3.41. Lloyds Banking Group PLC has a 52 week low of $2.47 and a 52 week high of $4.85.

The firm also recently disclosed a dividend, which was paid on Tuesday, October 11th. Shareholders of record on Friday, August 12th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Wednesday, August 10th. Lloyds Banking Group PLC’s payout ratio is presently 92.86%.

A number of large investors have recently made changes to their positions in LYG. Hollencrest Securities LLC raised its stake in shares of Lloyds Banking Group PLC by 28.5% in the third quarter. Hollencrest Securities LLC now owns 36,748 shares of the financial services provider’s stock worth $105,000 after buying an additional 8,156 shares during the last quarter. Capstone Asset Management Co. increased its stake in Lloyds Banking Group PLC by 3.4% in the third quarter. Capstone Asset Management Co. now owns 1,193,918 shares of the financial services provider’s stock worth $3,427,000 after buying an additional 39,710 shares during the period. Creative Planning increased its stake in Lloyds Banking Group PLC by 130.6% in the third quarter. Creative Planning now owns 298,516 shares of the financial services provider’s stock worth $857,000 after buying an additional 169,092 shares during the period. Fisher Asset Management LLC increased its stake in Lloyds Banking Group PLC by 28.5% in the third quarter. Fisher Asset Management LLC now owns 107,409,120 shares of the financial services provider’s stock worth $308,264,000 after buying an additional 23,821,430 shares during the period. Finally, Eqis Capital Management Inc. increased its stake in Lloyds Banking Group PLC by 217.8% in the third quarter. Eqis Capital Management Inc. now owns 48,232 shares of the financial services provider’s stock worth $138,000 after buying an additional 33,056 shares during the period. Hedge funds and other institutional investors own 1.65% of the company’s stock.

About Lloyds Banking Group PLC

Related posts

Leave a Comment