Lloyds Banking Group (LON:LLOY) Hits New 1-Year High - What's Next?

Key Points

• Lloyds Banking Group reached a new 52-week high, trading at GBX 84.24 ($1.13) with significant volume of 903,574,000 shares exchanged.
• Wall Street analysts have varying opinions on the stock; JPMorgan raised its rating to "neutral"" with a target of GBX 85, while Royal Bank Of Canada set a more optimistic target of GBX 95 with an "outperform" rating.
• Insider transactions were noted, with significant purchases made by company executives, indicating confidence in the firm’s future, as insiders accumulated over 421,000 shares valued at approximately $32 million in recent months.

Lloyds Banking Group plc (LON:LLOY - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as GBX 84.24 ($1.13) and last traded at GBX 84.06 ($1.13), with a volume of 903574000 shares changing hands. The stock had previously closed at GBX 83.70 ($1.12).

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Lloyds Banking Group to a "neutral" rating and boosted their price objective for the company from GBX 79 to GBX 85 in a research report on Monday, August 4th. Citigroup lifted their target price on Lloyds Banking Group from GBX 75 to GBX 77 and gave the company a "neutral" rating in a research note on Friday, August 1st. Shore Capital reaffirmed a "hold" rating and set a GBX 74 target price on shares of Lloyds Banking Group in a report on Thursday, July 24th. Finally, Royal Bank Of Canada raised Lloyds Banking Group to an "outperform" rating and set a GBX 95 price target on the stock in a report on Monday, August 4th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of GBX 82.75.

Lloyds Banking Group Stock Up 0.5%

The firm's 50 day simple moving average is GBX 78.28 and its 200 day simple moving average is GBX 73.50. The company has a market cap of £50.98 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.84 and a beta of 1.23.

Lloyds Banking Group (LON:LLOY - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported GBX 3.80 earnings per share (EPS) for the quarter. Lloyds Banking Group had a return on equity of 11.22% and a net margin of 16.66%. Analysts anticipate that Lloyds Banking Group plc will post 7.3199528 EPS for the current fiscal year.

Insider Activity

In other Lloyds Banking Group news, insider William Chalmers purchased 152,181 shares of the stock in a transaction dated Friday, June 20th. The shares were bought at an average cost of GBX 76 per share, with a total value of £115,657.56. Also, insider Charlie Nunn acquired 238,593 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were bought at an average price of GBX 76 per share, for a total transaction of £181,330.68. Over the last ninety days, insiders have acquired 421,274 shares of company stock valued at $32,138,824. Company insiders own 0.17% of the company's stock.

About Lloyds Banking Group

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community. The Group's main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.

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