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

Lloyds Banking Group PLC (NYSE:LYG) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $5.69 and last traded at $5.6850, with a volume of 557411 shares traded. The stock had previously closed at $5.59.

Analyst Upgrades and Downgrades

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

Lloyds Banking Group Trading Down 0.9%

The firm has a market capitalization of $85.53 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 0.61 and a beta of 0.89. The firm has a 50 day moving average price of $5.24 and a two-hundred day moving average price of $4.76.

Hedge Funds Weigh In On Lloyds Banking Group

Hedge funds have recently made changes to their positions in the business. Diversified Enterprises LLC acquired a new position in shares of Lloyds Banking Group during the 4th quarter valued at $65,000. HB Wealth Management LLC lifted its stake in shares of Lloyds Banking Group by 4.5% during the fourth quarter. HB Wealth Management LLC now owns 65,748 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 2,850 shares in the last quarter. Eagle Global Advisors LLC boosted its position in shares of Lloyds Banking Group by 5.4% in the fourth quarter. Eagle Global Advisors LLC now owns 980,000 shares of the financial services provider’s stock worth $5,194,000 after buying an additional 50,000 shares during the period. 55 North Private Wealth LLC acquired a new stake in shares of Lloyds Banking Group in the fourth quarter valued at about $141,000. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Lloyds Banking Group by 84.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 14,770 shares of the financial services provider’s stock valued at $78,000 after buying an additional 6,782 shares during the period. Hedge funds and other institutional investors 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.