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

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LYG. Citigroup reissued a “neutral” rating on shares of Lloyds Banking Group in a report on Monday, December 1st. Kepler Capital Markets upgraded Lloyds Banking Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 9th. Wall Street Zen lowered Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Lloyds Banking Group in a research report on Friday, October 31st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Lloyds Banking Group in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Lloyds Banking Group presently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Price Performance

The stock has a market capitalization of $81.77 billion, a PE ratio of 15.86, a P/E/G ratio of 0.63 and a beta of 0.89. The stock has a 50 day moving average of $5.18 and a two-hundred day moving average of $4.72.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings results 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 return on equity of 8.38% and a net margin of 18.04%.The firm had revenue of $6.56 billion for the quarter, compared to analyst estimates of $5.02 billion. As a group, research analysts predict that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lloyds Banking Group

Several institutional investors and hedge funds have recently modified their holdings of LYG. True Wealth Design LLC acquired a new stake in Lloyds Banking Group during the 3rd quarter valued at approximately $25,000. Salomon & Ludwin LLC increased its holdings in shares of Lloyds Banking Group by 2,671.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 5,959 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 5,744 shares during the period. Private Trust Co. NA raised its holdings in shares of Lloyds Banking Group by 115.2% during the third quarter. Private Trust Co. NA now owns 6,092 shares of the financial services provider’s stock valued at $28,000 after buying an additional 3,261 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Lloyds Banking Group during the 2nd quarter valued at $29,000. Finally, Westside Investment Management Inc. raised its stake in shares of Lloyds Banking Group by 100.0% during the third quarter. Westside Investment Management Inc. now owns 6,406 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 3,203 shares in the last quarter. 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.