Lloyds Banking Group PLC (NYSE:LYG) shares saw strong trading volume on Thursday . 35,889,672 shares changed hands during trading, an increase of 134% from the previous session’s volume of 15,334,190 shares.The stock last traded at $2.58 and had previously closed at $2.55.

A number of equities research analysts have commented on the company. Macquarie upgraded Lloyds Banking Group PLC from a “neutral” rating to an “outperform” rating in a research report on Tuesday. Zacks Investment Research upgraded Lloyds Banking Group PLC from a “sell” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank AG restated a “buy” rating on shares of Lloyds Banking Group PLC in a research report on Thursday, June 16th. Finally, Morgan Stanley restated a “buy” rating on shares of Lloyds Banking Group PLC in a research report on Wednesday, March 30th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of GBX 88.05 ($1.17).

The stock has a market cap of $54.82 billion and a price-to-earnings ratio of 216.67. The stock’s 50 day moving average price is $3.77 and its 200-day moving average price is $3.89.

A number of hedge funds and institutional investors recently modified their holdings of the stock. Thornburg Investment Management Inc. boosted its position in shares of Lloyds Banking Group PLC by 320.6% in the fourth quarter. Thornburg Investment Management Inc. now owns 8,143,696 shares of the financial services provider’s stock valued at $35,507,000 after buying an additional 6,207,651 shares during the period. Wells Fargo & Company MN boosted its position in shares of Lloyds Banking Group PLC by 7.7% in the fourth quarter. Wells Fargo & Company MN now owns 6,778,524 shares of the financial services provider’s stock valued at $29,554,000 after buying an additional 487,292 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Lloyds Banking Group PLC by 7.4% in the fourth quarter. Neuberger Berman Group LLC now owns 2,379,251 shares of the financial services provider’s stock valued at $10,374,000 after buying an additional 164,612 shares during the period. TD Asset Management Inc. boosted its position in shares of Lloyds Banking Group PLC by 26.3% in the fourth quarter. TD Asset Management Inc. now owns 1,592,804 shares of the financial services provider’s stock valued at $7,550,000 after buying an additional 332,082 shares during the period. Finally, Comerica Bank boosted its position in shares of Lloyds Banking Group PLC by 2.4% in the fourth quarter. Comerica Bank now owns 1,017,803 shares of the financial services provider’s stock valued at $4,153,000 after buying an additional 23,972 shares during the period.

LLOYDS BANKING GROUP plc provides financial services to individual and business customers in the United Kingdom but also overseas. The Company’s business activities include retail and commercial banking, long-term savings, protection and investment. It operates through its segments, including Retail, Commercial Banking, Consumer Finance and Insurance.

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