Goldman Sachs Group Upgrades Lloyds Banking Group (LYG) to “Neutral”

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Goldman Sachs Group upgraded shares of Lloyds Banking Group (NYSE:LYG) from a sell rating to a neutral rating in a research note released on Monday morning, Marketbeat Ratings reports.

Several other equities research analysts have also recently weighed in on LYG. Zacks Investment Research upgraded Lloyds Banking Group from a sell rating to a hold rating in a research report on Friday, February 1st. JPMorgan Chase & Co. reiterated a buy rating on shares of Lloyds Banking Group in a research report on Tuesday, January 22nd. Finally, Keefe, Bruyette & Woods upgraded Lloyds Banking Group from an underperform rating to an outperform rating in a research report on Thursday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $3.50.

Shares of LYG opened at $3.34 on Monday. Lloyds Banking Group has a twelve month low of $2.43 and a twelve month high of $3.98. The stock has a market cap of $59.28 billion, a PE ratio of 6.07 and a beta of 1.03. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 2.17.

The firm also recently disclosed a semiannual dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.1119 per share. This represents a dividend yield of 7.02%. The ex-dividend date is Thursday, April 4th. Lloyds Banking Group’s payout ratio is 20.00%.

Several hedge funds and other institutional investors have recently modified their holdings of LYG. Jane Street Group LLC grew its holdings in shares of Lloyds Banking Group by 458.0% during the fourth quarter. Jane Street Group LLC now owns 6,112,419 shares of the financial services provider’s stock worth $15,648,000 after purchasing an additional 5,016,922 shares in the last quarter. Morningstar Investment Services LLC grew its holdings in shares of Lloyds Banking Group by 1,516.1% during the fourth quarter. Morningstar Investment Services LLC now owns 4,645,132 shares of the financial services provider’s stock worth $11,892,000 after purchasing an additional 4,357,704 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Lloyds Banking Group during the third quarter worth about $10,184,000. Credit Suisse AG purchased a new position in shares of Lloyds Banking Group during the third quarter worth about $9,125,000. Finally, FNY Investment Advisers LLC grew its holdings in shares of Lloyds Banking Group by 389.3% during the fourth quarter. FNY Investment Advisers LLC now owns 3,708,750 shares of the financial services provider’s stock worth $9,494,000 after purchasing an additional 2,950,750 shares in the last quarter. 1.91% of the stock is owned by institutional investors.

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. The company 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, and unsecured consumer lending products to personal and small business customers.

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Analyst Recommendations for Lloyds Banking Group (NYSE:LYG)

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