Lloyds Banking Group (NYSE:LYG) Lowered to Equal Weight Rating by Morgan Stanley

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

Other equities research analysts have also recently issued research reports about the stock. Kepler Capital Markets initiated coverage on shares of Lloyds Banking Group in a report on Thursday, September 5th. They issued a “hold” rating on the stock. Citigroup cut Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. BNP Paribas raised Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 5th. UBS Group reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Finally, Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Lloyds Banking Group has a consensus rating of “Hold” and an average target price of $2.75.

Lloyds Banking Group Price Performance

LYG opened at $2.77 on Wednesday. The firm has a market cap of $43.29 billion, a P/E ratio of 7.29 and a beta of 1.34. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.48 and a current ratio of 1.45. Lloyds Banking Group has a fifty-two week low of $1.90 and a fifty-two week high of $3.24. The firm has a 50-day moving average of $3.07 and a 200 day moving average of $2.89.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LYG. Marks Group Wealth Management Inc increased its holdings in shares of Lloyds Banking Group by 89.3% in the third quarter. Marks Group Wealth Management Inc now owns 176,908 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 83,472 shares during the period. HF Advisory Group LLC increased its stake in Lloyds Banking Group by 17.2% in the 3rd quarter. HF Advisory Group LLC now owns 330,770 shares of the financial services provider’s stock worth $1,032,000 after acquiring an additional 48,518 shares during the last quarter. World Equity Group Inc. purchased a new stake in Lloyds Banking Group in the third quarter valued at approximately $116,000. QRG Capital Management Inc. raised its position in shares of Lloyds Banking Group by 15.0% during the 3rd quarter. QRG Capital Management Inc. now owns 1,961,137 shares of the financial services provider’s stock valued at $6,119,000 after buying an additional 255,668 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Lloyds Banking Group by 12.9% during the third quarter. Stephens Inc. AR now owns 153,074 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 17,438 shares in the last quarter. 2.15% of the stock is 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.