Brokerages Set Lloyds Banking Group plc (NYSE:LYG) Target Price at $2.75

by · The Markets Daily

Shares of Lloyds Banking Group plc (NYSE:LYG – Get Free Report) have been assigned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $2.75.

A number of brokerages have weighed in on LYG. Citigroup lowered Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. UBS Group reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. Kepler Capital Markets began coverage on Lloyds Banking Group in a research report on Thursday, September 5th. They set a “hold” rating for the company. BNP Paribas upgraded Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a report on Friday, July 5th. Finally, Royal Bank of Canada downgraded Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th.

Get Our Latest Report on LYG

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Transcend Capital Advisors LLC purchased a new position in Lloyds Banking Group during the 2nd quarter worth $28,000. Interchange Capital Partners LLC purchased a new position in Lloyds Banking Group during the 2nd quarter worth $28,000. Intergy Private Wealth LLC purchased a new position in Lloyds Banking Group during the 2nd quarter worth $29,000. Russell Investments Group Ltd. grew its stake in Lloyds Banking Group by 234.3% during the 4th quarter. Russell Investments Group Ltd. now owns 11,105 shares of the financial services provider’s stock worth $27,000 after buying an additional 7,783 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Lloyds Banking Group by 259.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 11,117 shares of the financial services provider’s stock worth $27,000 after buying an additional 8,027 shares during the last quarter. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Lloyds Banking Group Price Performance

Shares of LYG stock opened at $3.14 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.48 and a current ratio of 1.45. The stock has a 50 day moving average price of $3.01 and a 200 day moving average price of $2.81. The firm has a market capitalization of $49.08 billion, a P/E ratio of 8.26 and a beta of 1.35. Lloyds Banking Group has a 52-week low of $1.88 and a 52-week high of $3.18.

Lloyds Banking Group (NYSE:LYG – Get Free Report) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.09 earnings per share for the quarter. The business had revenue of $9.55 billion during the quarter. Lloyds Banking Group had a return on equity of 10.34% and a net margin of 12.40%. As a group, sell-side analysts predict that Lloyds Banking Group will post 0.32 earnings per share for the current year.

Lloyds Banking Group Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, September 20th. Investors of record on Monday, August 5th were paid a dividend of $0.0546 per share. This represents a yield of 4.4%. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. The ex-dividend date was Monday, August 5th. Lloyds Banking Group’s payout ratio is 26.32%.

About Lloyds Banking Group

(Get Free Report

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.

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