Lloyds Banking Group (NYSE:LYG) Shares Gap Down – Should You Sell?

Lloyds Banking Group plc (NYSE:LYG) gapped down before the market opened on Friday . The stock had previously closed at $2.77, but opened at $2.70. Lloyds Banking Group shares last traded at $2.72, with a volume of 3,012,390 shares.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley downgraded shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th. 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. Kepler Capital Markets began coverage on shares of Lloyds Banking Group in a research note on Thursday, September 5th. They issued a “hold” rating for the company. 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 for the company. Finally, UBS Group restated a “neutral” rating on shares of Lloyds Banking Group in a research note on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Trading Down 1.8 %

The stock has a market capitalization of $41.60 billion, a PE ratio of 7.09 and a beta of 1.35. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. The business’s 50-day moving average is $2.99 and its two-hundred day moving average is $2.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Transcend Capital Advisors LLC acquired a new position in shares of Lloyds Banking Group during the second quarter worth about $28,000. Interchange Capital Partners LLC acquired a new position in Lloyds Banking Group during the second quarter worth about $28,000. Intergy Private Wealth LLC purchased a new stake in shares of Lloyds Banking Group in the second quarter valued at about $29,000. Aletheian Wealth Advisors LLC purchased a new stake in shares of Lloyds Banking Group in the third quarter valued at about $34,000. Finally, Tcwp LLC purchased a new stake in shares of Lloyds Banking Group in the second quarter valued at about $32,000. 2.15% of the stock is currently owned by institutional investors and hedge funds.

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.