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Lloyds Banking Group (LON:LLOY) Stock Passes Above 200-Day Moving Average - Here's What Happened

Lloyds Banking Group logo with Financial Services background

Key Points

  • Lloyds Banking Group shares surpassed their 200-day moving average, trading at GBX 82.44 ($1.11), reflecting a positive market activity with a trading volume of over 169 million shares.
  • Brokerages, including the Royal Bank of Canada and JPMorgan Chase & Co., have raised their price targets and ratings for the stock, indicating a consensus price target of GBX 77.20 ($1.04) and an average rating of "Hold."
  • Insider trading activity showed that company insiders acquired over 421,000 shares, with notable purchases from individuals like William Chalmers and Chris Vogelzang, reflecting confidence in the company's future performance.
  • Need better tools to track Lloyds Banking Group? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Lloyds Banking Group plc (LON:LLOY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 72.47 ($0.98) and traded as high as GBX 82.44 ($1.12). Lloyds Banking Group shares last traded at GBX 82.44 ($1.12), with a volume of 169,322,781 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank Of Canada upgraded Lloyds Banking Group to an "outperform" rating and set a GBX 95 ($1.29) price objective for the company in a research report on Monday, August 4th. Shore Capital reiterated a "hold" rating and set a GBX 74 ($1.00) price objective on shares of Lloyds Banking Group in a research report on Thursday, July 24th. Citigroup upped their price objective on Lloyds Banking Group from GBX 75 ($1.01) to GBX 77 ($1.04) and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. upgraded Lloyds Banking Group to a "neutral" rating and upped their price objective for the company from GBX 79 ($1.07) to GBX 85 ($1.15) in a research report on Monday, August 4th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Lloyds Banking Group currently has an average rating of "Hold" and an average price target of GBX 77.20 ($1.04).

View Our Latest Report on Lloyds Banking Group

Lloyds Banking Group Trading Down 1.0%

The company has a market cap of £50.19 billion, a P/E ratio of 10.47, a PEG ratio of 1.84 and a beta of 1.23. The business's 50 day simple moving average is GBX 77.61 and its 200 day simple moving average is GBX 72.77.

Lloyds Banking Group (LON:LLOY - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported GBX 3.80 ($0.05) earnings per share for the quarter. Lloyds Banking Group had a return on equity of 11.22% and a net margin of 16.66%. Sell-side analysts anticipate that Lloyds Banking Group plc will post 7.3199528 EPS for the current year.

Insider Activity

In other Lloyds Banking Group news, insider Chris Vogelzang purchased 30,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of GBX 80 ($1.08) per share, with a total value of £24,400 ($33,013.12). Also, insider William Chalmers bought 152,181 shares of Lloyds Banking Group stock in a transaction on Friday, June 20th. The stock was acquired at an average price of GBX 76 ($1.03) per share, for a total transaction of £115,657.56 ($156,484.32). Insiders purchased 421,274 shares of company stock valued at $32,138,824 in the last ninety days. Insiders own 0.17% of the company's stock.

About Lloyds Banking Group

(Get Free Report)

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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