Lloyds Banking Group (NYSE:LYG) Reaches New 12-Month High at $2.91

Lloyds Banking Group plc (NYSE:LYG) reached a new 52-week high during trading on Thursday . The company traded as high as $2.91 and last traded at $2.90, with a volume of 10606423 shares trading hands. The stock had previously closed at $2.89.

A number of research firms recently commented on LYG. Zacks Investment Research raised Lloyds Banking Group from a “sell” rating to a “hold” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Lloyds Banking Group in a research report on Friday, September 17th. BNP Paribas raised Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research report on Monday, November 1st. The Goldman Sachs Group raised Lloyds Banking Group from a “sell” rating to a “neutral” rating in a research report on Tuesday, September 28th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Lloyds Banking Group in a research report on Monday, December 6th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Lloyds Banking Group presently has a consensus rating of “Buy” and an average target price of $2.75.

The firm has a 50 day moving average price of $2.57 and a two-hundred day moving average price of $2.52.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Thursday, October 28th. The financial services provider reported $0.15 earnings per share for the quarter. The firm had revenue of $5.77 billion for the quarter. On average, equities analysts expect that Lloyds Banking Group plc will post 0.45 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. boosted its stake in Lloyds Banking Group by 0.3% in the 2nd quarter. Macquarie Group Ltd. now owns 32,891,678 shares of the financial services provider’s stock worth $83,874,000 after purchasing an additional 111,433 shares during the period. Goldman Sachs Group Inc. boosted its stake in Lloyds Banking Group by 6.9% in the 3rd quarter. Goldman Sachs Group Inc. now owns 14,857,627 shares of the financial services provider’s stock worth $36,401,000 after purchasing an additional 954,258 shares during the period. Morgan Stanley boosted its stake in Lloyds Banking Group by 493.6% in the 2nd quarter. Morgan Stanley now owns 13,779,953 shares of the financial services provider’s stock worth $35,139,000 after purchasing an additional 11,458,529 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Lloyds Banking Group by 6.1% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 13,088,796 shares of the financial services provider’s stock worth $33,377,000 after purchasing an additional 756,829 shares during the period. Finally, Jane Street Group LLC boosted its stake in Lloyds Banking Group by 19.8% in the 3rd quarter. Jane Street Group LLC now owns 10,253,479 shares of the financial services provider’s stock worth $25,121,000 after purchasing an additional 1,692,207 shares during the period. Institutional investors and hedge funds own 1.41% of the company’s stock.

About Lloyds Banking Group (NYSE:LYG)

Lloyds Banking Group Plc is a financial services company, which engages in the provision of a wide range of banking and financial services. It operates through the following segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers broad range of financial service products, including current accounts, savings, mortgages, motor finance and unsecured consumer lending to personal and small business customers.

Further Reading: Black Swan

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