Lloyds Banking Group (NYSE:LYG) Sets New 52-Week High – Should You Buy?

Shares of Lloyds Banking Group PLC (NYSE:LYG) reached a new 52-week high during trading on Tuesday . The stock traded as high as $5.55 and last traded at $5.5250, with a volume of 3236209 shares trading hands. The stock had previously closed at $5.49.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LYG. Kepler Capital Markets upgraded shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 9th. Wall Street Zen cut Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Monday, October 20th. Citigroup reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a research report on Monday, December 1st. BNP Paribas lowered Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Lloyds Banking Group in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Lloyds Banking Group Price Performance

The business has a fifty day moving average price of $5.14 and a two-hundred day moving average price of $4.69. The firm has a market cap of $81.11 billion, a PE ratio of 15.73, a P/E/G ratio of 0.64 and a beta of 0.89.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). The business had revenue of $6.56 billion for the quarter, compared to analyst estimates of $5.02 billion. Lloyds Banking Group had a return on equity of 8.38% and a net margin of 18.04%. As a group, sell-side analysts forecast that Lloyds Banking Group PLC will post 0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Lloyds Banking Group

A number of institutional investors have recently modified their holdings of the stock. Beck Bode LLC bought a new position in Lloyds Banking Group during the second quarter valued at approximately $5,254,000. ABC Arbitrage SA acquired a new position in shares of Lloyds Banking Group during the 2nd quarter worth $1,689,000. First Eagle Investment Management LLC raised its holdings in shares of Lloyds Banking Group by 9.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 6,816,161 shares of the financial services provider’s stock valued at $28,969,000 after purchasing an additional 612,523 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of Lloyds Banking Group by 430.5% in the 2nd quarter. Quantbot Technologies LP now owns 479,674 shares of the financial services provider’s stock valued at $2,039,000 after purchasing an additional 389,255 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in Lloyds Banking Group in the second quarter worth $2,649,000. Institutional investors and hedge funds own 2.15% of the company’s stock.

About Lloyds Banking Group

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.