Lloyds Banking Group (LYG) Stock Price Up 6.8%

Lloyds Banking Group PLC (NYSE:LYG) shares rose 6.8% on Wednesday . The stock traded as high as $3.18 and last traded at $3.16. Approximately 10,538,645 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 9,991,155 shares. The stock had previously closed at $2.96.

LYG has been the topic of several research reports. Citigroup raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Friday, January 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Lloyds Banking Group in a research report on Tuesday, January 22nd. Zacks Investment Research raised Lloyds Banking Group from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Macquarie raised Lloyds Banking Group from an “underperform” rating to a “neutral” rating in a research report on Thursday, October 25th. Finally, Keefe, Bruyette & Woods raised Lloyds Banking Group from an “underperform” rating to an “outperform” rating in a research report on Thursday, January 24th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Lloyds Banking Group has an average rating of “Hold” and a consensus target price of $4.25.

The firm has a market cap of $53.33 billion, a PE ratio of 5.75 and a beta of 1.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in LYG. First Hawaiian Bank acquired a new stake in Lloyds Banking Group in the 3rd quarter valued at $332,000. BB&T Corp increased its holdings in Lloyds Banking Group by 5.0% in the 3rd quarter. BB&T Corp now owns 622,462 shares of the financial services provider’s stock valued at $1,892,000 after purchasing an additional 29,443 shares in the last quarter. Aperio Group LLC increased its holdings in Lloyds Banking Group by 1.7% in the 3rd quarter. Aperio Group LLC now owns 2,076,979 shares of the financial services provider’s stock valued at $6,314,000 after purchasing an additional 34,522 shares in the last quarter. Cambiar Investors LLC increased its holdings in Lloyds Banking Group by 2.9% in the 3rd quarter. Cambiar Investors LLC now owns 40,517,017 shares of the financial services provider’s stock valued at $123,172,000 after purchasing an additional 1,152,516 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Lloyds Banking Group in the 3rd quarter valued at $2,304,000. Hedge funds and other institutional investors own 1.88% of the company’s stock.

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Lloyds Banking Group Company Profile (NYSE:LYG)

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. The company operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, and unsecured consumer lending products to personal and small business customers.

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