Lloyds Banking Group (NYSE:LYG) Stock Price Passes Above 200-Day Moving Average – Time to Sell?
by Kim Johansen · The Markets DailyLloyds Banking Group PLC (NYSE:LYG – Get Free Report)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.40 and traded as high as $5.61. Lloyds Banking Group shares last traded at $5.5450, with a volume of 31,760,607 shares traded.
Analysts Set New Price Targets
Several analysts recently weighed in on LYG shares. Weiss Ratings cut shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. UBS Group upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Wall Street Zen raised Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Citigroup reaffirmed a “buy” rating on shares of Lloyds Banking Group in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Lloyds Banking Group presently has a consensus rating of “Moderate Buy”.
Check Out Our Latest Stock Analysis on LYG
Lloyds Banking Group Stock Performance
The firm has a fifty day simple moving average of $5.40 and a 200-day simple moving average of $5.40. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.09. The company has a market cap of $81.09 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.56 and a beta of 0.87.
Lloyds Banking Group (NYSE:LYG – Get Free Report) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $0.13 earnings per share for the quarter. The business had revenue of $6.87 billion during the quarter. Lloyds Banking Group had a return on equity of 10.63% and a net margin of 25.11%. On average, research analysts forecast that Lloyds Banking Group PLC will post 0.53 EPS for the current fiscal year.
Institutional Investors Weigh In On Lloyds Banking Group
Several large investors have recently modified their holdings of LYG. Tucker Asset Management LLC purchased a new stake in shares of Lloyds Banking Group during the 4th quarter worth approximately $27,000. Cornerstone Planning Group LLC lifted its position in shares of Lloyds Banking Group by 131.2% in the first quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 2,915 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Lloyds Banking Group by 47.3% during the fourth quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 2,051 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Lloyds Banking Group during the fourth quarter valued at $35,000. Finally, Manchester Capital Management LLC increased its position in Lloyds Banking Group by 1,216.6% during the 4th quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 7,543 shares in the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.
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.