Lloyds Banking Group (NYSE:LYG) Now Covered by Credit Suisse Group

Credit Suisse Group started coverage on shares of Lloyds Banking Group (NYSE:LYG) in a report released on Tuesday, BenzingaRatingsTable reports. The firm issued a neutral rating on the financial services provider’s stock.

A number of other analysts have also recently commented on LYG. Citigroup cut shares of Lloyds Banking Group from a buy rating to a neutral rating in a research report on Tuesday, October 22nd. ValuEngine upgraded shares of Lloyds Banking Group from a sell rating to a hold rating in a research report on Friday, January 24th. UBS Group restated a buy rating on shares of Lloyds Banking Group in a research report on Tuesday, October 15th. Redburn Partners cut shares of Lloyds Banking Group to a hold rating in a research report on Friday, January 10th. Finally, Goldman Sachs Group restated a sell rating on shares of Lloyds Banking Group in a research report on Monday, December 16th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $3.50.

LYG opened at $2.92 on Tuesday. Lloyds Banking Group has a 12 month low of $2.30 and a 12 month high of $3.58. The company has a fifty day simple moving average of $3.09 and a 200 day simple moving average of $2.86. The stock has a market cap of $52.15 billion, a P/E ratio of 10.81 and a beta of 1.11.

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James Trust N.A. increased its holdings in Lloyds Banking Group by 4.2% during the 3rd quarter. Raymond James Trust N.A. now owns 87,680 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 3,529 shares in the last quarter. Patton Albertson Miller Group LLC increased its holdings in Lloyds Banking Group by 35.8% during the 4th quarter. Patton Albertson Miller Group LLC now owns 16,300 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 4,300 shares in the last quarter. Eaton Vance Management increased its holdings in Lloyds Banking Group by 3.4% during the 4th quarter. Eaton Vance Management now owns 138,415 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 4,580 shares in the last quarter. Synovus Financial Corp increased its holdings in Lloyds Banking Group by 25.8% during the 4th quarter. Synovus Financial Corp now owns 24,631 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 5,047 shares in the last quarter. Finally, AE Wealth Management LLC increased its holdings in Lloyds Banking Group by 48.0% during the 4th quarter. AE Wealth Management LLC now owns 16,168 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 5,242 shares in the last quarter. Hedge funds and other institutional investors own 1.92% of the company’s stock.

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.

Read More: Why is the LIBOR significant?

Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

Receive News & Ratings for Lloyds Banking Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lloyds Banking Group and related companies with MarketBeat.com's FREE daily email newsletter.