Stock Traders Purchase Large Volume of Call Options on Lloyds Banking Group (NYSE:LYG)

Lloyds Banking Group PLC (NYSE:LYG) saw unusually large options trading activity on Wednesday. Traders acquired 20,799 call options on the company. This represents an increase of 4,973% compared to the average daily volume of 410 call options.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Monday, October 20th. Royal Bank Of Canada reissued an “outperform” rating on shares of Lloyds Banking Group in a research note on Tuesday, October 28th. Morgan Stanley reissued an “overweight” rating on shares of Lloyds Banking Group in a research note on Monday, November 24th. BNP Paribas Exane cut shares of Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lloyds Banking Group in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Lloyds Banking Group

A number of hedge funds and other institutional investors have recently modified their holdings of LYG. True Wealth Design LLC bought a new position in Lloyds Banking Group during the third quarter valued at approximately $25,000. Salomon & Ludwin LLC boosted its position in shares of Lloyds Banking Group by 2,671.6% during the third quarter. Salomon & Ludwin LLC now owns 5,959 shares of the financial services provider’s stock valued at $27,000 after buying an additional 5,744 shares during the period. Private Trust Co. NA boosted its holdings in Lloyds Banking Group by 115.2% during the 3rd quarter. Private Trust Co. NA now owns 6,092 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 3,261 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Lloyds Banking Group during the second quarter valued at $29,000. Finally, Westside Investment Management Inc. boosted its position in Lloyds Banking Group by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 6,406 shares of the financial services provider’s stock valued at $29,000 after buying an additional 3,203 shares during the period. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Trading Down 0.9%

Lloyds Banking Group stock opened at $5.81 on Thursday. The firm has a 50 day moving average of $5.26 and a 200 day moving average of $4.77. The firm has a market capitalization of $85.53 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 0.64 and a beta of 0.89. Lloyds Banking Group has a 12-month low of $2.97 and a 12-month high of $5.87.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.