Morgan Stanley Upgrades Lloyds Banking Group (LYG) to “Weight”

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Morgan Stanley upgraded shares of Lloyds Banking Group (NYSE:LYG) from an equal rating to a weight rating in a report issued on Monday morning, MarketBeat reports.

LYG has been the subject of several other research reports. Macquarie upgraded Lloyds Banking Group from an underperform rating to a neutral rating in a research note on Thursday, October 25th. Zacks Investment Research cut Lloyds Banking Group from a hold rating to a sell rating in a research report on Tuesday, December 4th. Goldman Sachs Group reiterated a sell rating on shares of Lloyds Banking Group in a research note on Thursday, December 20th. Citigroup upgraded Lloyds Banking Group from a neutral rating to a buy rating in a report on Friday, January 4th. Finally, JPMorgan Chase & Co. reaffirmed a buy rating on shares of Lloyds Banking Group in a research note on Tuesday, January 22nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Lloyds Banking Group has an average rating of Hold and an average target price of $4.25.

LYG opened at $2.95 on Monday. Lloyds Banking Group has a 12-month low of $2.43 and a 12-month high of $4.01. The company has a market capitalization of $53.15 billion, a P/E ratio of 5.36 and a beta of 1.00.

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in Lloyds Banking Group by 6.6% in the second quarter. Renaissance Technologies LLC now owns 939,100 shares of the financial services provider’s stock valued at $3,127,000 after buying an additional 58,500 shares during the period. First Hawaiian Bank purchased a new stake in shares of Lloyds Banking Group in the third quarter valued at $332,000. BB&T Corp boosted its holdings in shares of Lloyds Banking Group by 5.0% in the 3rd quarter. BB&T Corp now owns 622,462 shares of the financial services provider’s stock valued at $1,892,000 after buying an additional 29,443 shares in the last quarter. Aperio Group LLC raised its position in Lloyds Banking Group by 1.7% during the 3rd quarter. Aperio Group LLC now owns 2,076,979 shares of the financial services provider’s stock worth $6,314,000 after buying an additional 34,522 shares during the last quarter. Finally, Cambiar Investors LLC boosted its stake in Lloyds Banking Group by 2.9% during the 3rd quarter. Cambiar Investors LLC now owns 40,517,017 shares of the financial services provider’s stock worth $123,172,000 after purchasing an additional 1,152,516 shares during the last quarter. 1.89% of the stock is currently owned by institutional investors and hedge funds.

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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