Lloyds Banking Group (NYSE:LYG) Lowered to “Equal Weight” at Morgan Stanley

Lloyds Banking Group (NYSE:LYG) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, Briefing.com reports.

A number of other equities analysts have also commented on LYG. Royal Bank of Canada lowered shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. The Goldman Sachs Group assumed coverage on Lloyds Banking Group in a report on Friday, October 4th. They issued a “neutral” rating for the company. UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Kepler Capital Markets started coverage on Lloyds Banking Group in a research note on Thursday, September 5th. They set a “hold” rating for the company. Finally, BNP Paribas raised shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Friday, July 5th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Lloyds Banking Group currently has a consensus rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Trading Down 2.9 %

NYSE LYG opened at $2.82 on Wednesday. The stock has a market cap of $44.00 billion, a P/E ratio of 7.41 and a beta of 1.34. The company’s fifty day simple moving average is $3.07 and its 200-day simple moving average is $2.90. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.89. Lloyds Banking Group has a 52 week low of $1.90 and a 52 week high of $3.24.

Institutional Investors Weigh In On Lloyds Banking Group

A number of institutional investors have recently made changes to their positions in LYG. Transcend Capital Advisors LLC acquired a new position in Lloyds Banking Group in the second quarter worth $28,000. Interchange Capital Partners LLC bought a new position in shares of Lloyds Banking Group in the 2nd quarter worth about $28,000. Intergy Private Wealth LLC acquired a new position in shares of Lloyds Banking Group in the 2nd quarter valued at about $29,000. Aletheian Wealth Advisors LLC acquired a new stake in Lloyds Banking Group during the third quarter worth about $34,000. Finally, Susquehanna International Securities Ltd. bought a new position in Lloyds Banking Group in the first quarter worth about $30,000. 2.15% of the stock is currently owned by institutional investors.

Lloyds Banking Group Company Profile

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.