Lloyds Banking Group plc (NYSE:LYG) Receives $2.75 Consensus Price Target from Brokerages

Shares of Lloyds Banking Group plc (NYSE:LYG) have received a consensus recommendation of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $2.75.

Several analysts have recently commented on the stock. Morgan Stanley cut shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group initiated coverage on Lloyds Banking Group in a report on Friday, October 4th. They issued a “neutral” rating on the stock.

Hedge Funds Weigh In On Lloyds Banking Group

Hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC grew its holdings in Lloyds Banking Group by 4.2% in the fourth quarter. Global Retirement Partners LLC now owns 421,123 shares of the financial services provider’s stock valued at $1,145,000 after purchasing an additional 17,166 shares during the last quarter. Timber Creek Capital Management LLC grew its stake in Lloyds Banking Group by 0.6% in the 4th quarter. Timber Creek Capital Management LLC now owns 1,192,663 shares of the financial services provider’s stock valued at $3,244,000 after acquiring an additional 7,384 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in Lloyds Banking Group by 31.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 64,723 shares of the financial services provider’s stock worth $176,000 after acquiring an additional 15,425 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Lloyds Banking Group by 4.3% in the fourth quarter. Truist Financial Corp now owns 453,705 shares of the financial services provider’s stock valued at $1,234,000 after purchasing an additional 18,616 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Lloyds Banking Group in the fourth quarter valued at approximately $38,000. 2.15% of the stock is owned by hedge funds and other institutional investors.

Lloyds Banking Group Price Performance

Lloyds Banking Group stock opened at $3.05 on Friday. The business has a 50 day simple moving average of $2.77 and a 200-day simple moving average of $2.91. Lloyds Banking Group has a 12 month low of $2.00 and a 12 month high of $3.24. The stock has a market capitalization of $46.14 billion, a PE ratio of 7.81 and a beta of 1.31.

About Lloyds Banking Group

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.