Lloyds Banking Group (NYSE:LYG) Cut to "Equal Weight" at Morgan Stanley

Lloyds Banking Group (NYSE:LYG - Get Free Report) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

LYG has been the subject of several other research reports. Citigroup downgraded shares of Lloyds Banking Group from a "buy" rating to a "neutral" rating in a research note on Monday, August 5th. The Goldman Sachs Group started coverage on shares of Lloyds Banking Group in a research report on Friday, October 4th. They set a "neutral" rating on the stock. BNP Paribas raised Lloyds Banking Group from a "neutral" rating to an "outperform" rating in a research note on Friday, July 5th. UBS Group reaffirmed a "neutral" rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. Finally, Kepler Capital Markets assumed coverage on Lloyds Banking Group in a research report on Thursday, September 5th. They set a "hold" rating on the stock. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Lloyds Banking Group currently has an average rating of "Hold" and a consensus target price of $2.75.

Lloyds Banking Group Price Performance

NYSE LYG traded down $0.04 during trading hours on Wednesday, reaching $2.77. The company's stock had a trading volume of 15,732,060 shares, compared to its average volume of 9,644,987. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.48 and a current ratio of 1.45. The company's 50-day moving average is $3.07 and its two-hundred day moving average is $2.90. Lloyds Banking Group has a fifty-two week low of $1.90 and a fifty-two week high of $3.24. The stock has a market cap of $43.29 billion, a PE ratio of 7.41 and a beta of 1.34.

Institutional Trading of Lloyds Banking Group

Institutional investors and hedge funds have recently bought and sold shares of the business. World Equity Group Inc. acquired a new stake in shares of Lloyds Banking Group in the third quarter valued at about $116,000. QRG Capital Management Inc. lifted its position in shares of Lloyds Banking Group by 15.0% during the third quarter. QRG Capital Management Inc. now owns 1,961,137 shares of the financial services provider's stock worth $6,119,000 after purchasing an additional 255,668 shares in the last quarter. Stephens Inc. AR grew its holdings in Lloyds Banking Group by 12.9% during the 3rd quarter. Stephens Inc. AR now owns 153,074 shares of the financial services provider's stock valued at $478,000 after purchasing an additional 17,438 shares in the last quarter. US Bancorp DE increased its stake in Lloyds Banking Group by 36.6% during the 3rd quarter. US Bancorp DE now owns 757,336 shares of the financial services provider's stock worth $2,363,000 after buying an additional 202,862 shares during the period. Finally, Financial Advocates Investment Management lifted its holdings in Lloyds Banking Group by 176.7% in the 3rd quarter. Financial Advocates Investment Management now owns 58,548 shares of the financial services provider's stock worth $183,000 after buying an additional 37,392 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company's stock.

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.