Lloyds Banking Group (NYSE:LYG) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Lloyds Banking Group (NYSE:LYG) from a hold rating to a sell rating in a research report report published on Tuesday morning, Zacks.com reports.

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. “

Several other equities analysts have also recently commented on LYG. JPMorgan Chase & Co. cut shares of Lloyds Banking Group from an overweight rating to a neutral rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods cut shares of Lloyds Banking Group from an outperform rating to a market perform rating in a report on Tuesday, May 28th. Finally, Davy Research raised shares of Lloyds Banking Group from a neutral rating to an outperform rating in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Lloyds Banking Group presently has a consensus rating of Hold and a consensus target price of $3.75.

Lloyds Banking Group stock opened at $2.38 on Tuesday. Lloyds Banking Group has a 52 week low of $2.30 and a 52 week high of $3.46. The company’s 50 day moving average price is $2.61 and its two-hundred day moving average price is $2.99. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.36. The stock has a market cap of $42.70 billion, a P/E ratio of 7.21 and a beta of 1.03.

Several large investors have recently bought and sold shares of LYG. Renaissance Technologies LLC raised its holdings in shares of Lloyds Banking Group by 59.3% in the 2nd quarter. Renaissance Technologies LLC now owns 16,428,100 shares of the financial services provider’s stock worth $46,656,000 after purchasing an additional 6,116,500 shares during the period. Cambiar Investors LLC raised its holdings in Lloyds Banking Group by 11.2% during the 1st quarter. Cambiar Investors LLC now owns 43,880,682 shares of the financial services provider’s stock valued at $140,857,000 after acquiring an additional 4,405,176 shares during the period. Parametric Portfolio Associates LLC raised its holdings in Lloyds Banking Group by 28.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 11,306,872 shares of the financial services provider’s stock valued at $36,295,000 after acquiring an additional 2,476,497 shares during the period. Canada Pension Plan Investment Board raised its holdings in Lloyds Banking Group by 24.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,945,414 shares of the financial services provider’s stock valued at $25,405,000 after acquiring an additional 1,770,000 shares during the period. Finally, Morningstar Investment Services LLC raised its holdings in Lloyds Banking Group by 33.8% during the 2nd quarter. Morningstar Investment Services LLC now owns 6,305,944 shares of the financial services provider’s stock valued at $17,909,000 after acquiring an additional 1,591,290 shares during the period. 1.96% of the stock is currently owned by institutional investors.

About Lloyds Banking Group

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. It 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, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.

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