Lloyds Banking Group (NYSE:LYG) Sets New 1-Year High – Here’s What Happened

Shares of Lloyds Banking Group plc (NYSE:LYG) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $3.38 and last traded at $3.35, with a volume of 1619716 shares changing hands. The stock had previously closed at $3.14.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley cut shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Lloyds Banking Group has an average rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Trading Up 6.5 %

The stock has a market capitalization of $50.81 billion, a PE ratio of 8.58 and a beta of 1.31. The stock has a 50 day moving average price of $2.89 and a 200-day moving average price of $2.92.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). Lloyds Banking Group had a return on equity of 9.81% and a net margin of 10.89%. Research analysts forecast that Lloyds Banking Group plc will post 0.33 earnings per share for the current year.

Institutional Trading of Lloyds Banking Group

Hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its position in shares of Lloyds Banking Group by 15.8% during the 3rd quarter. Creative Planning now owns 952,249 shares of the financial services provider’s stock valued at $2,971,000 after buying an additional 129,940 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Lloyds Banking Group by 37.4% during the 3rd quarter. Raymond James & Associates now owns 3,416,484 shares of the financial services provider’s stock valued at $10,659,000 after buying an additional 929,478 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Lloyds Banking Group by 41.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 105,295 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 30,944 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Lloyds Banking Group by 6.1% during the third quarter. Sequoia Financial Advisors LLC now owns 65,320 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 3,734 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Lloyds Banking Group by 5.0% during the 3rd quarter. Signaturefd LLC now owns 295,146 shares of the financial services provider’s stock valued at $921,000 after purchasing an additional 13,993 shares during the period. Institutional investors own 2.15% of the company’s stock.

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.