Lloyds Banking Group (NYSE:LYG) Rating Lowered to Sell at Goldman Sachs Group

Goldman Sachs Group cut shares of Lloyds Banking Group (NYSE:LYG) from a neutral rating to a sell rating in a report released on Thursday, The Fly reports.

Several other research analysts have also recently weighed in on LYG. Deutsche Bank cut Lloyds Banking Group from a buy rating to a hold rating in a report on Friday, September 6th. Davy Research upgraded Lloyds Banking Group from a neutral rating to an outperform rating in a report on Tuesday, May 28th. JPMorgan Chase & Co. cut Lloyds Banking Group from an overweight rating to a neutral rating in a report on Tuesday, July 16th. Zacks Investment Research upgraded Lloyds Banking Group from a sell rating to a hold rating in a report on Thursday. Finally, Keefe, Bruyette & Woods cut Lloyds Banking Group from a market perform rating to an underperform rating in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $3.75.

Shares of Lloyds Banking Group stock opened at $2.68 on Thursday. The stock has a market cap of $44.93 billion, a P/E ratio of 8.12 and a beta of 1.04. The stock’s 50 day simple moving average is $2.45 and its 200-day simple moving average is $2.93. Lloyds Banking Group has a 1-year low of $2.30 and a 1-year high of $3.46. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.49 and a quick ratio of 1.49.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.12 earnings per share for the quarter. The business had revenue of $5.99 billion for the quarter. Lloyds Banking Group had a return on equity of 15.86% and a net margin of 23.57%. As a group, research analysts expect that Lloyds Banking Group will post 0.36 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EP Wealth Advisors LLC increased its position in shares of Lloyds Banking Group by 43.7% during the second quarter. EP Wealth Advisors LLC now owns 21,894 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 6,653 shares during the period. Atria Investments LLC increased its position in shares of Lloyds Banking Group by 14.7% during the second quarter. Atria Investments LLC now owns 47,815 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 6,130 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Lloyds Banking Group during the second quarter worth $101,000. Cresset Asset Management LLC increased its position in shares of Lloyds Banking Group by 51.0% during the second quarter. Cresset Asset Management LLC now owns 70,734 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 23,896 shares during the period. Finally, Vestmark Advisory Solutions Inc. increased its position in shares of Lloyds Banking Group by 8.8% during the second quarter. Vestmark Advisory Solutions Inc. now owns 88,037 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 7,151 shares during the period. 2.01% of the stock is currently 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. 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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