Lloyds Banking Group PLC (NYSE:LYG) shares shot up 5.4% during mid-day trading on Friday . The stock traded as high as $2.77 and last traded at $2.74, with a volume of 6,717,816 shares. The stock had previously closed at $2.60.

Several brokerages recently issued reports on LYG. Macquarie raised Lloyds Banking Group PLC from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 5th. Zacks Investment Research raised Lloyds Banking Group PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. JPMorgan Chase & Co. cut Lloyds Banking Group PLC from an “overweight” rating to a “neutral” rating in a research note on Monday, June 27th. Barclays PLC cut Lloyds Banking Group PLC from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 27th. Finally, Bank of America Corp. cut Lloyds Banking Group PLC from a “neutral” rating to an “underperform” rating in a research note on Monday, June 27th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of GBX 83.56 ($1.11).

The stock has a 50-day moving average price of $3.72 and a 200 day moving average price of $3.88. The stock has a market capitalization of $57.77 billion and a P/E ratio of 228.33.

Other hedge funds recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in 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. Thornburg Investment Management Inc. increased its stake in 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. Comerica Bank increased its stake in 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. PNC Financial Services Group Inc. increased its stake in Lloyds Banking Group PLC by 291.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 460,390 shares of the financial services provider’s stock valued at $2,007,000 after buying an additional 342,913 shares during the period. Finally, TD Asset Management Inc. increased its stake in 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.

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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