Lloyds Banking Group (NYSE:LYG) Sees Unusually-High Trading Volume

Shares of Lloyds Banking Group plc (NYSE:LYG) saw unusually-strong trading volume on Thursday . Approximately 184,594 shares changed hands during trading, a decline of 97% from the previous session’s volume of 5,970,054 shares.The stock last traded at $2.62 and had previously closed at $2.59.

A number of research analysts recently issued reports on LYG shares. The Goldman Sachs Group upgraded Lloyds Banking Group from a “sell” rating to a “neutral” rating in a research note on Tuesday, September 28th. Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a research note on Wednesday, September 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Lloyds Banking Group in a research note on Friday, September 17th. Investec upgraded Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Monday, June 21st. Finally, Zacks Investment Research upgraded Lloyds Banking Group from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a research note on Thursday, September 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $2.75.

The company has a current ratio of 1.47, a quick ratio of 1.13 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $46.50 billion, a P/E ratio of 21.58, a P/E/G ratio of 0.17 and a beta of 1.53. The company has a 50 day simple moving average of $2.43 and a two-hundred day simple moving average of $2.50.

Lloyds Banking Group (NYSE:LYG) last posted its earnings results on Wednesday, July 28th. The financial services provider reported $0.14 EPS for the quarter. The firm had revenue of $5.62 billion for the quarter. On average, sell-side analysts expect that Lloyds Banking Group plc will post 0.43 EPS for the current fiscal year.

The company also recently announced a semi-annual dividend, which was paid on Thursday, September 23rd. Stockholders of record on Monday, August 9th were given a dividend of $0.0375 per share. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.03. This represents a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 6th. Lloyds Banking Group’s dividend payout ratio is currently 58.33%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in shares of Lloyds Banking Group by 0.3% during the 2nd quarter. Macquarie Group Ltd. now owns 32,891,678 shares of the financial services provider’s stock valued at $83,874,000 after acquiring an additional 111,433 shares during the last quarter. Northern Trust Corp boosted its position in shares of Lloyds Banking Group by 1.3% during the 1st quarter. Northern Trust Corp now owns 15,445,947 shares of the financial services provider’s stock valued at $35,834,000 after acquiring an additional 190,899 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Lloyds Banking Group by 10.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 13,903,369 shares of the financial services provider’s stock valued at $35,454,000 after acquiring an additional 1,315,404 shares during the last quarter. Morgan Stanley boosted its position in shares of Lloyds Banking Group by 493.6% during the 2nd quarter. Morgan Stanley now owns 13,779,953 shares of the financial services provider’s stock valued at $35,139,000 after acquiring an additional 11,458,529 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Lloyds Banking Group by 6.1% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 13,088,796 shares of the financial services provider’s stock valued at $33,377,000 after acquiring an additional 756,829 shares during the last quarter. Hedge funds and other institutional investors own 1.53% 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.

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