PPL Co. (NYSE:PPL) Shares Sold by Assenagon Asset Management S.A.

ETFS

Assenagon Asset Management S.A. trimmed its holdings in shares of PPL Co. (NYSE:PPLGet Rating) by 91.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,240 shares of the utilities provider’s stock after selling 420,349 shares during the period. Assenagon Asset Management S.A.’s holdings in PPL were worth $969,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Great West Life Assurance Co. Can grew its holdings in shares of PPL by 3.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 350,807 shares of the utilities provider’s stock worth $10,501,000 after acquiring an additional 12,428 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of PPL by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,292,612 shares of the utilities provider’s stock worth $65,480,000 after buying an additional 50,658 shares in the last quarter. Sei Investments Co. lifted its stake in shares of PPL by 9.4% during the first quarter. Sei Investments Co. now owns 341,996 shares of the utilities provider’s stock valued at $9,779,000 after buying an additional 29,496 shares during the period. Allianz Asset Management GmbH boosted its position in PPL by 1.2% during the first quarter. Allianz Asset Management GmbH now owns 409,552 shares of the utilities provider’s stock worth $11,697,000 after acquiring an additional 4,998 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of PPL by 7.7% during the first quarter. Mather Group LLC. now owns 10,764 shares of the utilities provider’s stock worth $307,000 after purchasing an additional 766 shares during the last quarter. 70.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PPL. StockNews.com initiated coverage on PPL in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet raised shares of PPL from a “c+” rating to a “b” rating in a research report on Tuesday, December 6th. Wells Fargo & Company upped their price target on shares of PPL to $34.00 in a research report on Wednesday, December 14th. Mizuho lifted their price target on shares of PPL from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Morgan Stanley upgraded PPL from an “equal weight” rating to an “overweight” rating and set a $32.00 price objective for the company in a report on Thursday, December 15th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.30.

PPL Price Performance

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Shares of NYSE PPL opened at $30.61 on Monday. The business has a 50 day moving average price of $29.01 and a two-hundred day moving average price of $28.22. PPL Co. has a fifty-two week low of $23.47 and a fifty-two week high of $31.74. The firm has a market cap of $22.54 billion, a PE ratio of 32.22 and a beta of 0.78. The company has a quick ratio of 0.69, a current ratio of 0.82 and a debt-to-equity ratio of 0.93.

PPL (NYSE:PPLGet Rating) last posted its quarterly earnings results on Friday, November 4th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. PPL had a net margin of 9.86% and a return on equity of 7.19%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Sell-side analysts expect that PPL Co. will post 1.39 earnings per share for the current fiscal year.

PPL Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 9th were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, December 8th. PPL’s dividend payout ratio is currently 94.74%.

Insider Activity at PPL

In related news, insider David J. Bonenberger sold 29,080 shares of the business’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $30.00, for a total transaction of $872,400.00. Following the completion of the sale, the insider now owns 34,606 shares of the company’s stock, valued at approximately $1,038,180. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

PPL Profile

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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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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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