Independent Advisor Alliance lifted its holdings in shares of PPL Co. (NYSE:PPL – Get Rating) by 43.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,437 shares of the utilities provider’s stock after buying an additional 5,301 shares during the period. Independent Advisor Alliance’s holdings in PPL were worth $498,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of PPL during the first quarter worth about $93,000. GAM Holding AG raised its holdings in PPL by 23.2% during the first quarter. GAM Holding AG now owns 232,816 shares of the utilities provider’s stock worth $6,649,000 after purchasing an additional 43,882 shares in the last quarter. KBC Group NV raised its holdings in PPL by 1.6% during the first quarter. KBC Group NV now owns 49,694 shares of the utilities provider’s stock worth $1,419,000 after purchasing an additional 763 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in PPL by 137.6% during the first quarter. IFM Investors Pty Ltd now owns 213,245 shares of the utilities provider’s stock worth $6,090,000 after purchasing an additional 123,485 shares in the last quarter. Finally, Mirador Capital Partners LP raised its holdings in PPL by 19.1% during the first quarter. Mirador Capital Partners LP now owns 7,922 shares of the utilities provider’s stock worth $226,000 after purchasing an additional 1,273 shares in the last quarter. Institutional investors and hedge funds own 65.63% of the company’s stock.
PPL Stock Down 1.9 %
Shares of PPL opened at $28.07 on Friday. The firm has a market cap of $20.66 billion, a PE ratio of 28.64 and a beta of 0.75. The company’s fifty day moving average is $27.81 and its two-hundred day moving average is $28.18. PPL Co. has a fifty-two week low of $24.98 and a fifty-two week high of $30.72. The company has a quick ratio of 1.79, a current ratio of 0.62 and a debt-to-equity ratio of 0.88.
PPL Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Tuesday, June 21st were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Friday, June 17th. This is a positive change from PPL’s previous quarterly dividend of $0.20. PPL’s dividend payout ratio (DPR) is 91.84%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on PPL shares. Credit Suisse Group cut their price target on shares of PPL from $33.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, June 16th. The Goldman Sachs Group assumed coverage on shares of PPL in a report on Monday, May 30th. They set a “buy” rating for the company. Evercore ISI raised shares of PPL from an “in-line” rating to an “outperform” rating and dropped their target price for the company from $31.00 to $30.00 in a report on Thursday, July 7th. StockNews.com cut shares of PPL from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company increased their target price on shares of PPL from $33.00 to $34.00 in a report on Tuesday, June 7th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.56.
Insider Buying and Selling at PPL
In other PPL news, insider Stephanie R. Raymond sold 3,374 shares of PPL stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $30.45, for a total value of $102,738.30. Following the transaction, the insider now owns 23,182 shares in the company, valued at approximately $705,891.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Vincent Sorgi sold 27,553 shares of PPL stock in a transaction on Friday, July 29th. The shares were sold at an average price of $29.00, for a total transaction of $799,037.00. Following the transaction, the chief executive officer now owns 111,462 shares in the company, valued at approximately $3,232,398. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephanie R. Raymond sold 3,374 shares of PPL stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $30.45, for a total transaction of $102,738.30. Following the transaction, the insider now owns 23,182 shares in the company, valued at approximately $705,891.90. The disclosure for this sale can be found here. Insiders have sold a total of 31,404 shares of company stock worth $914,702 in the last quarter. 0.17% of the stock is owned by insiders.
PPL Company Profile
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through two segments: Kentucky Regulated and Pennsylvania Regulated. It serves approximately 429,000 electric and 333,000 natural gas customers in Louisville and adjacent areas in Kentucky; 538,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in five counties in southwestern Virginia.
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