Lloyds Banking Group (LON:LLOY) was downgraded by equities researchers at Morgan Stanley to an “equal weight” rating in a research note issued on Wednesday. They presently have a GBX 75 ($1.02) target price on the financial services provider’s stock, down from their prior target price of GBX 80 ($1.08). Morgan Stanley’s price objective would indicate a potential upside of 6.38% from the company’s previous close.
A number of other research analysts have also issued reports on LLOY. Goldman Sachs Group set a GBX 58 ($0.79) target price on shares of Lloyds Banking Group and gave the company a “sell” rating in a research note on Wednesday, September 13th. reissued a “buy” rating and set a GBX 76 ($1.03) target price on shares of Lloyds Banking Group in a research note on Monday, September 18th. JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 83 ($1.13) target price on shares of Lloyds Banking Group in a research note on Tuesday, September 19th. Deutsche Bank reissued a “buy” rating and set a GBX 73 ($0.99) target price on shares of Lloyds Banking Group in a research note on Tuesday, September 19th. Finally, Beaufort Securities reissued a “buy” rating and set a GBX 80 ($1.08) target price on shares of Lloyds Banking Group in a research note on Tuesday, September 19th. Four analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of GBX 75.73 ($1.03).
Lloyds Banking Group (LON LLOY) traded up GBX 0.67 ($0.01) during trading on Wednesday, reaching GBX 70.50 ($0.96). 155,190,000 shares of the company’s stock were exchanged, compared to its average volume of 105,210,000. The firm has a market cap of $50,740.00 and a price-to-earnings ratio of 1,762.50. Lloyds Banking Group has a 52-week low of GBX 61.81 ($0.84) and a 52-week high of GBX 73.58 ($1.00).
In other Lloyds Banking Group news, insider Antonio Horta-Osorio bought 4,747 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average cost of GBX 67 ($0.91) per share, for a total transaction of £3,180.49 ($4,313.11). Insiders purchased a total of 15,050 shares of company stock worth $998,864 over the last quarter.
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Lloyds Banking Group Company Profile
Lloyds Banking Group plc is a provider of financial services to individual and business customers in the United Kingdom. The Company’s main business activities are retail and commercial banking, general insurance, and long-term savings, protection and investment. The Company’s segments are Retail, Commercial Banking, Consumer Finance, Insurance and Other.
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