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

Morgan Stanley lowered shares of Lloyds Banking Group (NYSE:LYG) from an overweight rating to an equal weight rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports.

Other equities analysts also recently issued reports about the stock. BNP Paribas upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note on Friday, July 5th. Kepler Capital Markets assumed coverage on shares of Lloyds Banking Group in a research note on Thursday, September 5th. They set a “hold” rating on the stock. UBS Group reiterated a “neutral” rating on shares of Lloyds Banking Group in a research note on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They set a “neutral” rating on the stock. Finally, Citigroup downgraded shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.75.

Lloyds Banking Group Price Performance

Shares of LYG stock opened at $2.79 on Wednesday. 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 company has a market capitalization of $42.88 billion, a P/E ratio of 7.15 and a beta of 1.34. The company’s 50-day simple moving average is $3.05 and its two-hundred day simple moving average is $2.90. Lloyds Banking Group has a one year low of $1.98 and a one year high of $3.24.

Institutional Investors Weigh In On Lloyds Banking Group

Institutional investors have recently bought and sold shares of the company. Transcend Capital Advisors LLC purchased a new position in shares of Lloyds Banking Group in the second quarter worth $28,000. Interchange Capital Partners LLC purchased a new position in shares of Lloyds Banking Group during the second quarter worth $28,000. Intergy Private Wealth LLC purchased a new position in shares of Lloyds Banking Group during the second quarter worth $29,000. Susquehanna International Securities Ltd. purchased a new position in shares of Lloyds Banking Group during the first quarter worth $30,000. Finally, Tcwp LLC purchased a new position in shares of Lloyds Banking Group during the second quarter worth $32,000. 2.15% of the stock is currently owned by institutional investors and hedge funds.

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.