Stock Traders Purchase Large Volume of Lloyds Banking Group Call Options (NYSE:LYG)

Lloyds Banking Group PLC (NYSE:LYGGet Free Report) was the target of unusually large options trading on Tuesday. Investors bought 10,000 call options on the company. This is an increase of 927% compared to the typical volume of 974 call options.

Institutional Trading of Lloyds Banking Group

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its stake in 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 purchasing an additional 108,100 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Lloyds Banking Group by 124.1% in the first quarter. AQR Capital Management LLC now owns 263,246 shares of the financial services provider’s stock worth $1,006,000 after acquiring an additional 145,772 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Lloyds Banking Group by 18.4% during 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 acquiring an additional 126,247 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Lloyds Banking Group by 162.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 11,724 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 7,253 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Lloyds Banking Group in the 1st quarter valued at about $639,000. 2.15% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group Stock Performance

Shares of Lloyds Banking Group stock traded up $0.04 during trading hours on Tuesday, hitting $6.30. 2,020,100 shares of the company were exchanged, compared to its average volume of 20,157,877. The company has a current ratio of 1.52, a quick ratio of 0.56 and a debt-to-equity ratio of 2.12. The business has a 50-day moving average of $5.76 and a 200-day moving average of $5.56. Lloyds Banking Group has a 1 year low of $4.20 and a 1 year high of $6.34. The stock has a market capitalization of $91.85 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 0.87.

Lloyds Banking Group (NYSE:LYGGet Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.86 billion. Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%. As a group, analysts expect that Lloyds Banking Group will post 0.53 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, September 25th. Investors of record on Monday, August 10th will be given a $0.084 dividend. The ex-dividend date is Monday, August 10th. This represents a yield of 272.0%. Lloyds Banking Group’s dividend payout ratio (DPR) is presently 37.21%.

Analysts Set New Price Targets

Several research analysts have commented on LYG shares. Keefe, Bruyette & Woods cut shares of Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a report on Friday, July 17th. Berenberg Bank started coverage on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. They set a “hold” rating for the company. Weiss Ratings downgraded Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen downgraded Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Morgan Stanley restated an “overweight” rating on shares of Lloyds Banking Group in a research note on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

View Our Latest Analysis on LYG

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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