Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in PPL Co. (NYSE:PPL)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of PPL Co. (NYSE:PPL) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,457 shares of the utilities provider’s stock after buying an additional 2,113 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PPL were worth $2,547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PPL. Great Valley Advisor Group Inc. lifted its holdings in PPL by 1.7% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 17,696 shares of the utilities provider’s stock worth $585,000 after buying an additional 301 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. increased its position in shares of PPL by 0.4% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 78,296 shares of the utilities provider’s stock worth $2,480,000 after acquiring an additional 313 shares during the period. Choreo LLC raised its stake in shares of PPL by 0.9% in the fourth quarter. Choreo LLC now owns 37,622 shares of the utilities provider’s stock valued at $1,230,000 after acquiring an additional 322 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in PPL by 0.9% in the fourth quarter. Bleakley Financial Group LLC now owns 36,986 shares of the utilities provider’s stock valued at $1,201,000 after purchasing an additional 342 shares during the period. Finally, Cobblestone Capital Advisors LLC NY boosted its holdings in PPL by 2.4% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 14,848 shares of the utilities provider’s stock valued at $491,000 after purchasing an additional 348 shares during the period. 76.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO David J. Bonenberger sold 981 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total value of $32,843.88. Following the completion of the sale, the chief operating officer now directly owns 45,414 shares of the company’s stock, valued at approximately $1,520,460.72. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tadd J. Henninger sold 1,424 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total value of $47,675.52. Following the transaction, the senior vice president now directly owns 11,259 shares in the company, valued at approximately $376,951.32. This represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,794 shares of company stock worth $661,338 in the last quarter. 0.22% of the stock is owned by insiders.

PPL Price Performance

Shares of PPL opened at $34.21 on Tuesday. The firm has a fifty day moving average price of $32.84 and a 200 day moving average price of $32.45. The stock has a market cap of $25.24 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. PPL Co. has a 1-year low of $25.60 and a 1-year high of $35.15. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07.

PPL Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were given a $0.2575 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.01%. PPL’s dividend payout ratio (DPR) is presently 91.97%.

Wall Street Analysts Forecast Growth

PPL has been the topic of a number of analyst reports. Bank of America increased their price target on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. initiated coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price on the stock. Jefferies Financial Group decreased their price target on shares of PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Barclays dropped their price objective on shares of PPL from $34.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Finally, BMO Capital Markets initiated coverage on shares of PPL in a research note on Wednesday, December 11th. They set an “outperform” rating and a $36.00 target price for the company. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.