Lloyds Banking Group (NYSE:LYG) Now Covered by Analysts at Berenberg Bank

Stock analysts at Berenberg Bank began coverage on shares of Lloyds Banking Group (NYSE:LYG) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the financial services provider’s stock.

LYG has been the subject of several other research reports. Citigroup reiterated a “buy” rating on shares of Lloyds Banking Group in a report on Thursday, April 30th. Wall Street Zen raised shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings cut shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Finally, UBS Group raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Lloyds Banking Group has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Performance

Lloyds Banking Group stock opened at $5.73 on Wednesday. Lloyds Banking Group has a twelve month low of $3.98 and a twelve month high of $6.34. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.09. The firm has a fifty day simple moving average of $5.41 and a two-hundred day simple moving average of $5.41. The company has a market capitalization of $83.80 billion, a PE ratio of 13.02, a P/E/G ratio of 0.58 and a beta of 0.87.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $6.87 billion for the quarter. Lloyds Banking Group had a return on equity of 10.63% and a net margin of 25.11%. Research analysts expect that Lloyds Banking Group will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Lloyds Banking Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its holdings in Lloyds Banking Group by 0.8% in the third quarter. Fisher Asset Management LLC now owns 149,958,264 shares of the financial services provider’s stock worth $680,811,000 after purchasing an additional 1,129,641 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Lloyds Banking Group by 4.4% during the third quarter. Crossmark Global Holdings Inc. now owns 5,079,633 shares of the financial services provider’s stock valued at $23,062,000 after acquiring an additional 211,920 shares during the last quarter. Assetmark Inc. boosted its stake in Lloyds Banking Group by 24.0% in the fourth quarter. Assetmark Inc. now owns 3,416,144 shares of the financial services provider’s stock valued at $18,106,000 after acquiring an additional 660,256 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Lloyds Banking Group by 19.2% in the 3rd quarter. American Century Companies Inc. now owns 8,112,276 shares of the financial services provider’s stock worth $36,830,000 after purchasing an additional 1,306,099 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Lloyds Banking Group by 41.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,134,374 shares of the financial services provider’s stock worth $9,690,000 after purchasing an additional 622,061 shares during the last quarter. Hedge funds and other institutional investors own 2.15% of the company’s stock.

About Lloyds Banking Group

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.