Lloyds Banking Group (NYSE:LYG) Sees Unusually-High Trading Volume – What’s Next?

Shares of Lloyds Banking Group plc (NYSE:LYG) saw unusually-high trading volume on Friday . Approximately 5,607,658 shares traded hands during mid-day trading, a decline of 17% from the previous session’s volume of 6,743,076 shares.The stock last traded at $2.68 and had previously closed at $2.70.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LYG shares. The Goldman Sachs Group assumed coverage on Lloyds Banking Group in a report on Friday, October 4th. They set a “neutral” rating on the stock. Morgan Stanley lowered shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Lloyds Banking Group has a consensus rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Stock Performance

The firm has a market cap of $40.76 billion, a price-to-earnings ratio of 6.90 and a beta of 1.31. The stock has a 50-day moving average of $2.74 and a 200-day moving average of $2.91. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.48 and a current ratio of 1.45.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in Lloyds Banking Group by 22.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 648,513 shares of the financial services provider’s stock worth $1,770,000 after buying an additional 120,257 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Lloyds Banking Group by 121.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 74,351 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 40,799 shares in the last quarter. Rothschild Investment LLC acquired a new position in Lloyds Banking Group during the second quarter valued at approximately $35,000. Commonwealth Equity Services LLC grew its stake in Lloyds Banking Group by 6.5% in the second quarter. Commonwealth Equity Services LLC now owns 144,252 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 8,758 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Lloyds Banking Group by 4.4% during the 2nd quarter. Natixis Advisors LLC now owns 1,454,414 shares of the financial services provider’s stock worth $3,971,000 after purchasing an additional 61,016 shares during the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

About Lloyds Banking Group

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.