Sunday, June 26, 2022

The Attractiveness of Investing In Lloyds Banking Group plc (LYG) is Growing

BofA Securities upgraded its Lloyds Banking Group plc [LYG] rating to a Buy from a a Neutral in a research note published on Tuesday. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in early April from “an Overweight” to “an Equal weight”. RBC Capital Mkts also remained covering LYG and has decreased its forecast on March 30, 2022 with a “an Underperform” recommendation from previously “an Outperform” rating. BofA Securities revised its rating on March 07, 2022. It rated LYG as “a Neutral” which previously was an “an Underperform”.


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Price Performance Review of LYG

On Tuesday, Lloyds Banking Group plc [NYSE:LYG] saw its stock jump 1.95% to $2.09. On the same session, the stock had its day’s lowest price of $2.08, but rose to a high of $2.1185. Over the last five days, the stock has gained 2.45%. Lloyds Banking Group plc shares have fallen nearly -18.04% since the year began. Nevertheless, the stocks have fallen -18.99% over the past one year. While a 52-week high of $3.00 was reached on 01/14/22, a 52-week low of $2.00 was recorded on 06/14/22. SMA at 50 days reached $2.21, while 200 days put it at $2.48. A total of 7.51 million shares were traded, compared to the trading of 10.45 million shares in the previous session.

Levels Of Support And Resistance For LYG Stock

The 24-hour chart illustrates a support level at 2.07, which if violated will result in even more drops to 2.06. On the upside, there is a resistance level at 2.11. A further resistance level may holdings at 2.13. The Relative Strength Index (RSI) on the 14-day chart is 43.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.10, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 68.97%. Stochastics %K at 21.84% indicates the stock is a holding.

Lloyds Banking Group plc [LYG] – Who Are The Largest Shareholders?

In filings from JPMorgan Securities LLC, it is revealed that the company now owns 32,914,836 shares, or roughly 0.19% of the outstanding LYG shares. In other words, the investor’s shares have fallen by -388,554 from its previous 13-F filing of 33303390.0. Additionally, Macquarie Investment Management B increased 2.59% of its stake after which the total value it holdings stand at $65,652,149, while Mondrian Investment Partners Ltd. reduced 0.00% of its stake to hold $58.43 million in the firm. Over the last quarter, Goldman Sachs Asset Management LP purchased 1,298,820 shares of Lloyds Banking Group plc, while BMO Asset Management Corp. bought 12,525,944 shares. At present, CIBC Private Wealth Advisors, Inc is holding 14,811,710 shares valued at $33.33 million. Strategic Advisers LLC owned 12,643,265 shares of the company at the time of its most recent 13F filing, worth $28.45 million.

According to FactSet, Lloyds Banking Group plc’s share price will average $2.93 in the next year, based on opinions of analysts polled by the firm. This is up nearly 43.9 percent from its previous closing price of $2.05. Analysts expect Lloyds Banking Group plc stock to reach the higher price of $3.83, while the lowest price estimate is $2.25. However, 22 analysts have rated LYG stock as an Overweight in their predictions for 2022.

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