Taxpayer stake in Lloyds now below 11%

Retail section supplies mortgages, banking and other financial services to personal customers in the United Kingdom. The Insurance and Investments segment offers life assurance, pensions and savings products, general insurance, and fund management services. Commercial Banking segment provides banking and related services to business customers. The upcoming retail share sale has already attracted significant attention, with Hargreaves Lansdown reporting yesterday that it had received more than 120,000 expressions of interest since Monday.

Analysts at Zacks have given a short term rating of sell on Lloyds Banking Group Plc (NYSE:LYG) with a rank of 4. Lloyds Banking Group PLC has a 52 week low of GBX 70.96 and a 52 week high of GBX 89.35. 2 analysts have rated the company as a strong buy. Investec’s target would suggest a potential upside of 11.47% from the company’s stock close price.

The government has taken further steps in returning the bailed-out banks to the private sector by reducing its stake in Lloyds Banking Group and removing a few of the complexity of its holding in Royal Bank of Scotland. The stock underperformed the broader London market, with banking shares losing ground after Deutsche Bank flagged significant write-downs and warned on dividend. The stock’s 50-day moving average is $4.71 and its 200 day moving average is $5.08.

Lloyds Banking Group PLC (LON:LLOY) traded down -0.30% on 8 October, hitting GBX 76.45.

Lloyds Banking Group plc is engaged in providing financial services to individual and business customers in the United Kingdom and in certain locations overseas. The Company offers commercial and retail banking, and long-term savings, protection and investment.

Lloyds Banking Group Plc (NYSE:LYG): On Wednesday heightened volatility was witnessed in Lloyds Banking Group Plc (NYSE:LYG) which led to swings in the share price.