Short Interest in Lloyds Banking Group PLC (NYSE:LYG) Drops By 20.0%

Lloyds Banking Group PLC (NYSE:LYG) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 4,510,000 shares, a decrease of 20.0% from the September 30th total of 5,640,000 shares. Based on an average daily volume of 6,100,000 shares, the short-interest ratio is presently 0.7 days. Approximately 0.0% of the shares of the stock are sold short.

Shares of NYSE:LYG traded down $0.03 during trading on Thursday, reaching $2.99. The stock had a trading volume of 2,771,040 shares, compared to its average volume of 6,082,511. The business has a fifty day moving average price of $2.85 and a 200-day moving average price of $2.79. The company has a quick ratio of 1.49, a current ratio of 0.17 and a debt-to-equity ratio of 2.53. The stock has a market cap of $52.33 billion, a P/E ratio of 9.06 and a beta of 1.08. Lloyds Banking Group has a fifty-two week low of $2.30 and a fifty-two week high of $3.46.

Several large investors have recently bought and sold shares of LYG. Renaissance Technologies LLC raised its position in shares of Lloyds Banking Group by 59.3% in the second quarter. Renaissance Technologies LLC now owns 16,428,100 shares of the financial services provider’s stock valued at $46,656,000 after buying an additional 6,116,500 shares during the last quarter. Mondrian Investment Partners LTD raised its position in shares of Lloyds Banking Group by 10.9% in the third quarter. Mondrian Investment Partners LTD now owns 20,272,206 shares of the financial services provider’s stock valued at $53,519,000 after buying an additional 2,000,000 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Lloyds Banking Group by 24.7% in the second quarter. Canada Pension Plan Investment Board now owns 8,945,414 shares of the financial services provider’s stock valued at $25,405,000 after buying an additional 1,770,000 shares during the last quarter. Morningstar Investment Services LLC raised its position in shares of Lloyds Banking Group by 33.8% in the second quarter. Morningstar Investment Services LLC now owns 6,305,944 shares of the financial services provider’s stock valued at $17,909,000 after buying an additional 1,591,290 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc raised its position in shares of Lloyds Banking Group by 18.0% in the second quarter. Schafer Cullen Capital Management Inc now owns 10,110,437 shares of the financial services provider’s stock valued at $29,017,000 after buying an additional 1,543,978 shares during the last quarter. 1.99% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of Lloyds Banking Group from a “market perform” rating to an “underperform” rating in a report on Thursday, September 5th. ValuEngine downgraded shares of Lloyds Banking Group from a “sell” rating to a “strong sell” rating in a report on Monday, October 21st. Citigroup lowered shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. Goldman Sachs Group lowered shares of Lloyds Banking Group from a “neutral” rating to a “sell” rating in a research report on Thursday, September 12th. Finally, UBS Group reissued a “buy” rating on shares of Lloyds Banking Group in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $3.50.

Lloyds Banking Group Company Profile

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. It 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, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.

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