Lloyds Banking Group (NYSE:LYG) Hits New 1-Year High – Should You Buy?

Lloyds Banking Group PLC (NYSE:LYG)’s stock price reached a new 52-week high on Monday . The stock traded as high as $4.88 and last traded at $4.8850, with a volume of 11245 shares traded. The stock had previously closed at $4.84.

Analyst Ratings Changes

LYG has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 5th. Kepler Capital Markets raised shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods upgraded Lloyds Banking Group from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Wall Street Zen cut Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Up 0.5%

The business has a fifty day moving average of $4.56 and a 200 day moving average of $4.33. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.55 and a quick ratio of 0.53. The stock has a market capitalization of $74.48 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.65 and a beta of 1.05.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). Lloyds Banking Group had a net margin of 18.04% and a return on equity of 8.38%. The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $5.02 billion. As a group, equities analysts predict that Lloyds Banking Group PLC will post 0.27 earnings per share for the current year.

Hedge Funds Weigh In On Lloyds Banking Group

Several hedge funds and other institutional investors have recently made changes to their positions in LYG. Townsquare Capital LLC increased its holdings in Lloyds Banking Group by 4.2% in the first quarter. Townsquare Capital LLC now owns 1,596,132 shares of the financial services provider’s stock valued at $6,097,000 after buying an additional 64,952 shares during the last quarter. ICONIQ Capital LLC boosted its position in shares of Lloyds Banking Group by 194.1% during the 1st quarter. ICONIQ Capital LLC now owns 87,502 shares of the financial services provider’s stock worth $334,000 after acquiring an additional 57,750 shares in the last quarter. Beck Bode LLC purchased a new position in shares of Lloyds Banking Group in the 2nd quarter valued at about $5,254,000. American Century Companies Inc. raised its position in shares of Lloyds Banking Group by 6.0% during the 1st quarter. American Century Companies Inc. now owns 7,011,774 shares of the financial services provider’s stock worth $26,785,000 after acquiring an additional 399,866 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Lloyds Banking Group by 9.9% during the second quarter. First Eagle Investment Management LLC now owns 6,816,161 shares of the financial services provider’s stock worth $28,969,000 after purchasing an additional 612,523 shares during the last quarter. Hedge funds and other 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.