Lloyds Banking Group plc (NYSE:LYG) Sees Large Decline in Short Interest

Lloyds Banking Group plc (NYSE:LYG) saw a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 8,390,000 shares, a decrease of 15.9% from the December 31st total of 9,980,000 shares. Based on an average daily volume of 11,950,000 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.1% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Lloyds Banking Group in a report on Friday, October 4th. They issued a “neutral” rating for the company. Morgan Stanley cut Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.75.

Hedge Funds Weigh In On Lloyds Banking Group

A number of institutional investors have recently added to or reduced their stakes in LYG. Brentview Investment Management LLC purchased a new position in Lloyds Banking Group during the fourth quarter worth approximately $31,000. Aletheian Wealth Advisors LLC purchased a new position in Lloyds Banking Group during the third quarter worth approximately $34,000. Simon Quick Advisors LLC purchased a new position in Lloyds Banking Group during the fourth quarter worth approximately $35,000. Cerro Pacific Wealth Advisors LLC purchased a new position in Lloyds Banking Group during the fourth quarter worth approximately $37,000. Finally, CIBC Asset Management Inc purchased a new position in Lloyds Banking Group during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Stock Down 1.5 %

Shares of NYSE LYG traded down $0.05 during midday trading on Friday, hitting $3.05. The stock had a trading volume of 13,338,415 shares, compared to its average volume of 15,573,458. The company has a market capitalization of $46.14 billion, a PE ratio of 7.81 and a beta of 1.31. The stock has a 50 day simple moving average of $2.78 and a 200-day simple moving average of $2.91. Lloyds Banking Group has a 1 year low of $2.00 and a 1 year high of $3.24.

Lloyds Banking Group Company Profile

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.