Trade Report: Today, Lloyds Banking Group PLC (LYG) Coverage Initiated at Credit Suisse Group AG

Today, Lloyds Banking Group PLC (LYG) Coverage Initiated at Credit Suisse Group AG

Research analysts at Credit Suisse Group AG started coverage on shares of Lloyds Banking Group PLC (NYSE:LYG) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set a “neutral” rating on the financial services provider’s stock.

Several other analysts also recently weighed in on LYG. Citigroup Inc. restated a “sell” rating on shares of Lloyds Banking Group PLC in a research note on Wednesday, August 31st. Davy Research restated an “outperform” rating on shares of Lloyds Banking Group PLC in a research note on Thursday, October 27th. Investec upgraded Lloyds Banking Group PLC from a “hold” rating to a “buy” rating in a research note on Thursday, August 25th. Zacks Investment Research upgraded Lloyds Banking Group PLC from a “sell” rating to a “buy” rating and set a $3.50 target price for the company in a research note on Saturday, September 10th. Finally, Goldman Sachs Group Inc. downgraded Lloyds Banking Group PLC from a “neutral” rating to a “sell” rating in a research note on Monday, September 26th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Lloyds Banking Group PLC has an average rating of “Hold” and an average target price of $3.50.

Lloyds Banking Group PLC (NYSE:LYG) opened at 2.87 on Tuesday. The firm has a market cap of $43.63 billion, a price-to-earnings ratio of 42.21 and a beta of 1.33. Lloyds Banking Group PLC has a 52-week low of $2.47 and a 52-week high of $4.58. The company’s 50-day moving average price is $2.83 and its 200-day moving average price is $3.16.

Institutional investors have recently modified their holdings of the company. Assetmark Inc. boosted its position in shares of Lloyds Banking Group PLC by 0.9% in the second quarter. Assetmark Inc. now owns 35,998 shares of the financial services provider’s stock worth $107,000 after buying an additional 336 shares during the last quarter. US Bancorp DE boosted its position in shares of Lloyds Banking Group PLC by 1.5% in the third quarter. US Bancorp DE now owns 75,778 shares of the financial services provider’s stock worth $218,000 after buying an additional 1,109 shares during the last quarter. Frontier Investment Mgmt Co. boosted its position in shares of Lloyds Banking Group PLC by 2.0% in the second quarter. Frontier Investment Mgmt Co. now owns 83,936 shares of the financial services provider’s stock worth $249,000 after buying an additional 1,664 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Lloyds Banking Group PLC by 5.1% in the second quarter. Rehmann Capital Advisory Group now owns 35,894 shares of the financial services provider’s stock worth $107,000 after buying an additional 1,747 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in shares of Lloyds Banking Group PLC by 6.4% in the second quarter. Checchi Capital Advisers LLC now owns 70,346 shares of the financial services provider’s stock worth $209,000 after buying an additional 4,240 shares during the last quarter. 1.68% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group PLC Company Profile

LLOYDS BANKING GROUP plc provides financial services to individual and business customers in the United Kingdom but also overseas. The Company’s business activities include retail and commercial banking, long-term savings, protection and investment. It operates through its segments, including Retail, Commercial Banking, Consumer Finance and Insurance.

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