Lloyds Banking Group (NYSE:LYG) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Lloyds Banking Group PLC (NYSE:LYG)’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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LYG shares. Weiss Ratings lowered shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Citigroup reaffirmed a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday, April 30th. Wall Street Zen upgraded Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, UBS Group raised Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Stock Up 0.1%

The firm has a market capitalization 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. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average of $5.40 and a two-hundred day moving average of $5.40.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.13 earnings per share (EPS) for the quarter. The firm 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, equities research analysts forecast that Lloyds Banking Group PLC will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LYG. Royal Bank of Canada raised its stake in shares of Lloyds Banking Group by 10.6% in the 1st quarter. Royal Bank of Canada now owns 1,126,734 shares of the financial services provider’s stock valued at $4,305,000 after acquiring an additional 108,100 shares during the period. AQR Capital Management LLC boosted its position in Lloyds Banking Group by 124.1% during the 1st quarter. AQR Capital Management LLC now owns 263,246 shares of the financial services provider’s stock worth $1,006,000 after purchasing an additional 145,772 shares during the period. Jane Street Group LLC raised its position in Lloyds Banking Group by 18.4% in the first quarter. Jane Street Group LLC now owns 812,424 shares of the financial services provider’s stock valued at $3,103,000 after purchasing an additional 126,247 shares during the period. Geneos Wealth Management Inc. raised its position in Lloyds Banking Group by 162.2% in the first quarter. Geneos Wealth Management Inc. now owns 11,724 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 7,253 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Lloyds Banking Group during the first quarter worth about $639,000. 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.