Investors Buy Large Volume of Lloyds Banking Group Call Options (NYSE:LYG)

Lloyds Banking Group PLC (NYSE:LYG) saw unusually large options trading on Wednesday. Stock investors bought 20,799 call options on the stock. This is an increase of approximately 4,973% compared to the average daily volume of 410 call options.

Institutional Trading of Lloyds Banking Group

A number of large investors have recently modified their holdings of LYG. True Wealth Design LLC bought a new stake in shares of Lloyds Banking Group in the 3rd quarter valued at about $25,000. Salomon & Ludwin LLC grew its position in Lloyds Banking Group by 2,671.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 5,959 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 5,744 shares during the period. Private Trust Co. NA raised its position in Lloyds Banking Group by 115.2% during the third quarter. Private Trust Co. NA now owns 6,092 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 3,261 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Lloyds Banking Group in the 2nd quarter valued at $29,000. Finally, Westside Investment Management Inc. raised its position in shares of Lloyds Banking Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 6,406 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 3,203 shares during the period. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LYG. Morgan Stanley reaffirmed an “overweight” rating on shares of Lloyds Banking Group in a research note on Monday, November 24th. BNP Paribas Exane downgraded shares of Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Lloyds Banking Group in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lloyds Banking Group in a research note on Friday, October 31st. Finally, Citigroup restated a “neutral” rating on shares of Lloyds Banking Group in a report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Down 0.9%

NYSE LYG traded down $0.06 during trading on Wednesday, hitting $5.81. 10,357,988 shares of the stock traded hands, compared to its average volume of 7,530,669. The company has a market capitalization of $85.53 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 0.61 and a beta of 0.89. The firm has a 50-day simple moving average of $5.24 and a 200-day simple moving average of $4.76. Lloyds Banking Group has a 12-month low of $2.97 and a 12-month high of $5.87.

About Lloyds Banking Group

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.