Lloyds Banking Group PLC (NYSE:LYG) shares gapped up before the market opened on Wednesday . The stock had previously closed at $2.64, but opened at $2.59. Lloyds Banking Group shares last traded at $2.57, with a volume of 2,782,351 shares traded.

LYG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods downgraded shares of Lloyds Banking Group from a “market perform” rating to an “underperform” rating in a research report on Thursday, September 5th. Zacks Investment Research cut shares of Lloyds Banking Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Davy Research upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. downgraded shares of Lloyds Banking Group from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 16th. Finally, Deutsche Bank cut Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Three 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 stock. The stock has a consensus rating of “Hold” and an average target price of $3.75.

The company has a market cap of $45.37 billion, a P/E ratio of 7.82 and a beta of 1.04. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 2.36. The business has a 50 day moving average price of $2.45 and a 200-day moving average price of $2.94.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.12 earnings per share for the quarter. Lloyds Banking Group had a net margin of 23.57% and a return on equity of 15.86%. The business had revenue of $5.99 billion during the quarter. On average, sell-side analysts expect that Lloyds Banking Group PLC will post 0.36 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of LYG. Renaissance Technologies LLC increased its stake in shares of Lloyds Banking Group by 59.3% during the 2nd quarter. Renaissance Technologies LLC now owns 16,428,100 shares of the financial services provider’s stock worth $46,656,000 after purchasing an additional 6,116,500 shares during the last quarter. Cambiar Investors LLC grew its holdings in Lloyds Banking Group by 11.2% during the first quarter. Cambiar Investors LLC now owns 43,880,682 shares of the financial services provider’s stock worth $140,857,000 after purchasing an additional 4,405,176 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Lloyds Banking Group by 28.0% during the first quarter. Parametric Portfolio Associates LLC now owns 11,306,872 shares of the financial services provider’s stock worth $36,295,000 after purchasing an additional 2,476,497 shares during the period. Canada Pension Plan Investment Board increased its position in Lloyds Banking Group by 24.7% during the second quarter. Canada Pension Plan Investment Board now owns 8,945,414 shares of the financial services provider’s stock worth $25,405,000 after buying an additional 1,770,000 shares during the last quarter. Finally, Morningstar Investment Services LLC increased its position in Lloyds Banking Group by 33.8% during the second quarter. Morningstar Investment Services LLC now owns 6,305,944 shares of the financial services provider’s stock worth $17,909,000 after buying an additional 1,591,290 shares during the last quarter. 2.01% of the stock is currently owned by hedge funds and other institutional investors.

Lloyds Banking Group Company Profile (NYSE:LYG)

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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