Callan Family Office LLC acquired a new stake in PPL Corporation (NYSE:PPL – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,378 shares of the utilities provider’s stock, valued at approximately $704,000.
Other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP boosted its position in PPL by 569.8% in the second quarter. GSA Capital Partners LLP now owns 35,633 shares of the utilities provider’s stock valued at $1,295,000 after buying an additional 30,313 shares during the last quarter. Chancellor Financial Group WB LP purchased a new position in PPL during the 2nd quarter worth approximately $1,286,000. Deutsche Bank AG raised its position in PPL by 23.7% during the 2nd quarter. Deutsche Bank AG now owns 2,056,733 shares of the utilities provider’s stock worth $74,762,000 after buying an additional 393,748 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in PPL during the 2nd quarter valued at approximately $1,881,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in PPL by 9.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837,296 shares of the utilities provider’s stock valued at $66,786,000 after acquiring an additional 157,005 shares during the period. 76.99% of the stock is currently owned by hedge funds and other institutional investors.
PPL Price Performance
NYSE:PPL opened at $35.03 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.73. The firm has a market cap of $26.36 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 2.40 and a beta of 0.57. The company has a 50 day moving average price of $35.79 and a 200-day moving average price of $36.75. PPL Corporation has a 1-year low of $33.17 and a 1-year high of $40.10.
PPL Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a dividend of $0.285 per share. The ex-dividend date is Thursday, September 10th. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. PPL’s dividend payout ratio is currently 67.46%.
Insider Activity at PPL
In other PPL news, CFO Ashley F. Johnson sold 34,993 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total transaction of $772,645.44. Following the completion of the sale, the chief financial officer directly owned 561,482 shares in the company, valued at approximately $12,397,522.56. The trade was a 5.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kristen Robinson sold 37,107 shares of the stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $25.05, for a total value of $929,530.35. Following the transaction, the director directly owned 222,897 shares of the company’s stock, valued at $5,583,569.85. The trade was a 14.27% decrease in their position. The SEC filing for this sale provides additional information. 0.34% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on PPL shares. Bank of America reduced their target price on shares of PPL from $42.00 to $39.00 and set a “buy” rating for the company in a report on Monday, July 20th. Mizuho raised shares of PPL to a “hold” rating in a report on Friday, July 3rd. Evercore set a $42.00 price target on PPL in a research report on Monday, August 17th. Jefferies Financial Group cut their price target on PPL from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Barclays lifted their price objective on PPL from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.
Check Out Our Latest Stock Report on PPL
PPL Company Profile
PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company’s core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.
PPL’s activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.
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