Lloyds Banking Group plc (NYSE:LYG) Receives $2.75 Consensus PT from Analysts

Lloyds Banking Group plc (NYSE:LYG) has received a consensus rating of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $2.75.

Several research analysts recently weighed in on LYG shares. Morgan Stanley lowered shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group began coverage on shares of Lloyds Banking Group in a report on Friday, October 4th. They issued a “neutral” rating on the stock.

Lloyds Banking Group Price Performance

Shares of NYSE:LYG opened at $3.06 on Friday. Lloyds Banking Group has a one year low of $2.00 and a one year high of $3.24. The company has a 50 day moving average of $2.75 and a 200-day moving average of $2.91. The stock has a market cap of $46.29 billion, a price-to-earnings ratio of 7.83 and a beta of 1.31.

Hedge Funds Weigh In On Lloyds Banking Group

Several institutional investors and hedge funds have recently modified their holdings of LYG. Hsbc Holdings PLC increased its holdings in shares of Lloyds Banking Group by 110.1% in the second quarter. Hsbc Holdings PLC now owns 169,014 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 88,569 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Lloyds Banking Group by 26.6% in the second quarter. Sei Investments Co. now owns 840,209 shares of the financial services provider’s stock valued at $2,294,000 after purchasing an additional 176,464 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Lloyds Banking Group by 126.6% in the second quarter. Bank of Montreal Can now owns 140,574 shares of the financial services provider’s stock valued at $395,000 after acquiring an additional 78,530 shares during the period. Insigneo Advisory Services LLC bought a new stake in shares of Lloyds Banking Group in the second quarter valued at about $42,000. Finally, AQR Capital Management LLC boosted its position in shares of Lloyds Banking Group by 323.3% in the second quarter. AQR Capital Management LLC now owns 136,599 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 104,326 shares during the period. 2.15% of the stock is currently owned by institutional investors and hedge funds.

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.