Lloyds Banking Group (LON:LLOY) Hits New 52-Week High - Here's Why

Key Points

• Lloyds Banking Group's shares reached a new 52-week high of GBX 84.72 ($1.15) amidst strong trading activity, with over 1 billion shares exchanged.
• Multiple analysts have raised their target prices for the stock, with JPMorgan boosting theirs from GBX 85 to GBX 98, and Jefferies increasing theirs from GBX 92 to GBX 103, indicating positive growth expectations.
• Insider transactions showed confidence in the company as two insiders purchased a total of 390,774 shares at an average cost of GBX 76, highlighting ongoing insider interest in Lloyds Banking Group.

Shares of Lloyds Banking Group plc (LON:LLOY - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 84.72 ($1.15) and last traded at GBX 84.52 ($1.15), with a volume of 1065704500 shares traded. The stock had previously closed at GBX 84.46 ($1.15).

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Lloyds Banking Group from GBX 85 to GBX 98 and gave the stock a "neutral" rating in a research note on Tuesday, September 9th. Shore Capital reiterated a "hold" rating and set a GBX 74 target price on shares of Lloyds Banking Group in a research note on Thursday, July 24th. Jefferies Financial Group boosted their target price on shares of Lloyds Banking Group from GBX 92 to GBX 103 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Citigroup upped their price objective on shares of Lloyds Banking Group from GBX 75 to GBX 77 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada upgraded shares of Lloyds Banking Group to an "outperform" rating and set a GBX 95 price objective for the company in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of GBX 89.40.

Lloyds Banking Group Price Performance

The firm has a market cap of £50.00 billion, a price-to-earnings ratio of 1,276.97, a P/E/G ratio of 1.84 and a beta of 1.23. The firm's 50 day moving average price is GBX 80.18 and its two-hundred day moving average price is GBX 75.55.

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

Insider Buying and Selling at Lloyds Banking Group

In related news, insider Charlie Nunn bought 238,593 shares of the company's stock in a transaction on Friday, June 20th. The stock was bought at an average cost of GBX 76 per share, with a total value of £181,330.68. Also, insider William Chalmers bought 152,181 shares of the stock in a transaction on Friday, June 20th. The stock was purchased at an average cost of GBX 76 per share, with a total value of £115,657.56. Over the last three months, insiders purchased 471,274 shares of company stock valued at $36,338,824. Corporate insiders own 0.16% of the company's stock.

Lloyds Banking Group Company Profile

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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