Arrowstreet Capital LP recently announced the acquisition of new stake in Lloyds Banking Group plc (NYSE:LYG). The institutional investor has increased its shareholding in the Financial company by 9.65% to 19.78 million shares with purchase of 1.74 million shares. This fresh investment now brings its stake to 0.12% valued currently at $41.53 million. In addition, Dimensional Fund Advisors LP raised its holdings by 2.27 million to 17.93 million shares. And Parametric Portfolio Associates L has lifted its position by 1.36% or 0.18 million shares – to 13.42 million shares.
With over 8.57 million Lloyds Banking Group plc (LYG) shares trading Monday and a closing price of $2.05 on the day, the dollar volume was approximately $17.57 million. The shares have shown a negative half year performance of -5.96% and its price on 09/18/23 lost nearly -2.84%. Currently, there are 16.56B common shares owned by the public and among those 15.84B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for LYG have a consensus price objective of $2.92. The analysts have set the share’s price value over the next 12 months at a high of $3.98 and a low of $2.07. The average price target is 31.67% above its recent price level and an upside to the estimated low will see the stock gain 0.97% over that period. But an upside of 48.49% will see the stock hit the forecast high price target while median target price for the stock is $2.95.
The top 3 mutual fund holders in Lloyds Banking Group plc are Dimensional International Value E, Avantis International Equity ETF, and Dimensional International Core Eq. Dimensional International Value E owns 3.73 million shares of the company’s stock, all valued at over $7.83 million. Dimensional International Core Eq bought 6196.0 shares to bring its total holdings to over 2.83 million shares at a value of $5.94 million. Dimensional International Core Eq now owns shares totaling to 0.02% of the shares outstanding.
Shares of Lloyds Banking Group plc (NYSE: LYG) opened at $2.09, down -$0.02 from a prior closing price of $2.11. However, the script later moved the day high at 2.0900, down -2.84%. The company’s stock has a 5-day price change of 0.99% and -9.69% over the past three months. LYG shares are trading -6.82% year to date (YTD), with the 12-month market performance down to -5.09% lower. It has a 12-month low price of $1.70 and touched a high of $2.63 over the same period. LYG has an average intraday trading volume of 9.53 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.70%, -5.76%, and -10.65% respectively.
Institutional ownership of Lloyds Banking Group plc (NYSE: LYG) shares accounts for 2.70% of the company’s 16.56B shares outstanding. Mutual fund holders own 0.15%, while other institutional holders and individual stakeholders account for 2.03% and — respectively.
It has a market capitalization of $33.33B and a beta (3y monthly) value of 1.30. The stock’s trailing 12-month PE ratio is 16.53, while the earnings-per-share (ttm) stands at $0.12. The company has a debt-to-equity ratio at 2.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.55% over the week and 1.81% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. EPS should grow at an annualized rate of -10.30% over the next five years, compared to -16.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate Lloyds Banking Group plc (LYG) as a “Strong Buy” at a consensus score of 1.00. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 6 of the 20 advise that investors “hold,” and 3 rated it as a “Sell.”