Lloyds Banking Group PLC (NYSE:LYG) shares fell 6% on Thursday . The company traded as low as $2.80 and last traded at $2.80, with a volume of 7,465,377 shares trading hands. The stock had previously closed at $2.98.

A number of research firms recently weighed in on LYG. Berenberg Bank raised shares of Lloyds Banking Group PLC from a “sell” rating to a “hold” rating in a research report on Tuesday. Macquarie raised shares of Lloyds Banking Group PLC from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 5th. Zacks Investment Research upgraded shares of Lloyds Banking Group PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. JPMorgan Chase & Co. cut shares of Lloyds Banking Group PLC from an “overweight” rating to a “neutral” rating in a research note on Monday, June 27th. Finally, Barclays PLC cut shares of Lloyds Banking Group PLC from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 27th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of GBX 82.08 ($1.09).

The company’s 50-day moving average is $3.20 and its 200-day moving average is $3.74. The stock has a market cap of $41.48 billion and a PE ratio of 26.48.

A number of institutional investors recently bought and sold shares of LYG. Sei Investments Co. raised its position in Lloyds Banking Group PLC by 126.3% in the fourth quarter. Sei Investments Co. now owns 366,249 shares of the financial services provider’s stock valued at $1,597,000 after buying an additional 204,377 shares during the last quarter. PNC Financial Services Group Inc. raised its position 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 last quarter. Finally, Wells Fargo & Company MN raised its position 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 last quarter.

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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