Lloyds Banking Group Target of Unusually High Options Trading (NYSE:LYG)

Lloyds Banking Group PLC (NYSE:LYGGet Free Report) saw unusually large options trading activity on Wednesday. Stock investors acquired 20,799 call options on the company. This is an increase of 4,973% compared to the average daily volume of 410 call options.

Hedge Funds Weigh In On Lloyds Banking Group

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LYG shares. Wall Street Zen downgraded Lloyds Banking Group from a “buy” rating to a “hold” rating in a research note 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. Royal Bank Of Canada reiterated an “outperform” rating on shares of Lloyds Banking Group in a report on Tuesday, October 28th. Morgan Stanley restated an “overweight” rating on shares of Lloyds Banking Group in a report on Monday, November 24th. Finally, BNP Paribas Exane cut Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Lloyds Banking Group currently has an average rating of “Moderate Buy”.

View Our Latest Stock Analysis on LYG

Trending Headlines about Lloyds Banking Group

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Lloyds Banking Group Stock Performance

Shares of NYSE:LYG opened at $5.93 on Friday. The firm has a 50 day simple moving average of $5.29 and a 200 day simple moving average of $4.77. Lloyds Banking Group has a 52 week low of $2.97 and a 52 week high of $5.98. The company has a market cap of $87.30 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.68 and a beta of 0.89.

About Lloyds Banking Group

(Get Free Report)

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.

Further Reading

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