Lloyds Banking Group plc (NYSE:LYG) Receives $2.75 Average Price Target from Analysts

Shares of Lloyds Banking Group plc (NYSE:LYG - Get Free Report) have earned an average rating of "Hold" from the ten ratings firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $2.75.

Several equities research analysts have recently issued reports on LYG shares. Kepler Capital Markets started coverage on Lloyds Banking Group in a report on Thursday, September 5th. They set a "hold" rating on the stock. The Goldman Sachs Group started coverage on Lloyds Banking Group in a report on Friday, October 4th. They set a "neutral" rating on the stock. Finally, Morgan Stanley cut Lloyds Banking Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, October 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in Lloyds Banking Group by 36.6% in the third quarter. US Bancorp DE now owns 757,336 shares of the financial services provider's stock valued at $2,363,000 after acquiring an additional 202,862 shares during the last quarter. Raymond James & Associates raised its position in Lloyds Banking Group by 37.4% in the third quarter. Raymond James & Associates now owns 3,416,484 shares of the financial services provider's stock valued at $10,659,000 after purchasing an additional 929,478 shares during the period. Citigroup Inc. raised its position in Lloyds Banking Group by 58.3% in the third quarter. Citigroup Inc. now owns 1,703,943 shares of the financial services provider's stock valued at $5,316,000 after purchasing an additional 627,592 shares during the period. Oppenheimer Asset Management Inc. raised its position in Lloyds Banking Group by 22.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,022,677 shares of the financial services provider's stock valued at $3,191,000 after purchasing an additional 186,443 shares during the period. Finally, Townsquare Capital LLC raised its position in Lloyds Banking Group by 36.1% in the third quarter. Townsquare Capital LLC now owns 1,518,111 shares of the financial services provider's stock valued at $4,737,000 after purchasing an additional 402,998 shares during the period. Institutional investors and hedge funds own 2.15% of the company's stock.

Lloyds Banking Group Price Performance

Lloyds Banking Group stock traded down $0.02 during mid-day trading on Friday, hitting $2.71. 5,923,784 shares of the company were exchanged, compared to its average volume of 9,627,667. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 1.48. The business's 50 day simple moving average is $2.91 and its two-hundred day simple moving average is $2.92. The company has a market capitalization of $41.37 billion, a P/E ratio of 6.92 and a beta of 1.32. Lloyds Banking Group has a 12-month low of $2.00 and a 12-month high of $3.24.

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.