Lloyds Banking Group (NYSE:LYG) Sets New 52-Week High – Here’s What Happened

Lloyds Banking Group PLC (NYSE:LYG) shares hit a new 52-week high on Friday . The stock traded as high as $5.12 and last traded at $5.1050, with a volume of 380246 shares. The stock had previously closed at $4.98.

Analysts Set New Price Targets

LYG has been the subject of a number of research reports. Kepler Capital Markets raised Lloyds Banking Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 9th. Zacks Research cut Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Lloyds Banking Group in a research report on Friday, October 31st. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Lloyds Banking Group in a research report on Tuesday, October 28th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Lloyds Banking Group in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Price Performance

The company has a market cap of $75.34 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 0.65 and a beta of 1.05. The company’s 50-day simple moving average is $4.64 and its 200-day simple moving average is $4.41. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.55 and a quick ratio of 0.53.

Lloyds Banking Group (NYSE:LYG) last posted its earnings results on Thursday, October 23rd. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). The firm had revenue of $6.56 billion for the quarter, compared to analyst estimates of $5.02 billion. Lloyds Banking Group had a return on equity of 8.38% and a net margin of 18.04%. On average, equities research analysts anticipate that Lloyds Banking Group PLC will post 0.27 EPS for the current year.

Institutional Trading of Lloyds Banking Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Townsquare Capital LLC boosted its stake in Lloyds Banking Group by 4.2% during the 1st quarter. Townsquare Capital LLC now owns 1,596,132 shares of the financial services provider’s stock valued at $6,097,000 after purchasing an additional 64,952 shares during the period. ICONIQ Capital LLC raised its holdings in shares of Lloyds Banking Group by 194.1% during the first quarter. ICONIQ Capital LLC now owns 87,502 shares of the financial services provider’s stock valued at $334,000 after buying an additional 57,750 shares during the last quarter. Beck Bode LLC acquired a new position in shares of Lloyds Banking Group during the second quarter worth approximately $5,254,000. ABC Arbitrage SA acquired a new position in shares of Lloyds Banking Group during the second quarter worth approximately $1,689,000. Finally, American Century Companies Inc. increased its position in Lloyds Banking Group by 6.0% in the 1st quarter. American Century Companies Inc. now owns 7,011,774 shares of the financial services provider’s stock valued at $26,785,000 after acquiring an additional 399,866 shares during the period. 2.15% of the stock is owned by hedge funds and other 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.