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

Lloyds Banking Group plc (NYSE:LYG) gapped down prior to trading on Wednesday . The stock had previously closed at $2.75, but opened at $2.62. Lloyds Banking Group shares last traded at $2.61, with a volume of 2,134,168 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LYG shares. Morgan Stanley lowered shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group started coverage on Lloyds Banking Group in a research report on Friday, October 4th. They set a “neutral” rating for the company. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.75.

Lloyds Banking Group Stock Performance

The stock’s 50-day simple moving average is $2.74 and its 200 day simple moving average is $2.91. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 1.48. The stock has a market capitalization of $40.15 billion, a P/E ratio of 6.80 and a beta of 1.31.

Institutional Trading of Lloyds Banking Group

Institutional investors have recently added to or reduced their stakes in the company. Tcwp LLC acquired a new position in Lloyds Banking Group in the 2nd quarter valued at $32,000. Aletheian Wealth Advisors LLC acquired a new stake in Lloyds Banking Group during the third quarter worth about $34,000. Angeles Investment Advisors LLC increased its holdings in Lloyds Banking Group by 38.6% in the 2nd quarter. Angeles Investment Advisors LLC now owns 15,290 shares of the financial services provider’s stock valued at $42,000 after buying an additional 4,262 shares during the period. Insigneo Advisory Services LLC acquired a new position in shares of Lloyds Banking Group in the 2nd quarter valued at approximately $42,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Lloyds Banking Group during the 3rd quarter worth approximately $42,000. 2.15% of the stock is currently owned by 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.