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 report sent to investors on Wednesday morning, MarketBeat.com reports.

A number of other brokerages also recently commented on LYG. 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. The Goldman Sachs Group began coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They issued a “neutral” rating on the stock. Kepler Capital Markets began coverage on shares of Lloyds Banking Group in a research note on Thursday, September 5th. They issued a “hold” rating on the stock. UBS Group reissued a “neutral” rating on shares of Lloyds Banking Group in a research note on Tuesday, July 30th. 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 investment 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 currently has a consensus rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Stock Performance

LYG opened at $2.79 on Wednesday. The firm has a market capitalization of $42.88 billion, a PE ratio of 7.15 and a beta of 1.34. Lloyds Banking Group has a twelve month low of $1.98 and a twelve month high of $3.24. The firm’s 50-day moving average price is $3.05 and its 200 day moving average price is $2.90. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.76.

Institutional Investors Weigh In On Lloyds Banking Group

Several large investors have recently added to or reduced their stakes in LYG. Transcend Capital Advisors LLC acquired a new position in Lloyds Banking Group during the 2nd quarter worth approximately $28,000. Interchange Capital Partners LLC acquired a new position in Lloyds Banking Group during the 2nd quarter worth approximately $28,000. Intergy Private Wealth LLC acquired a new position in Lloyds Banking Group during the 2nd quarter worth approximately $29,000. Susquehanna International Securities Ltd. acquired a new position in Lloyds Banking Group during the 1st quarter worth approximately $30,000. Finally, Tcwp LLC acquired a new position in Lloyds Banking Group during the 2nd quarter worth approximately $32,000. 2.15% of the stock is owned by hedge funds and other 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.