PPL Co. (NYSE:PPL) Shares Sold by Swiss National Bank

Swiss National Bank lessened its position in shares of PPL Co. (NYSE:PPL) by 4.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,084,100 shares of the utilities provider’s stock after selling 105,600 shares during the quarter. Swiss National Bank’s holdings in PPL were worth $67,650,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PPL. Avantax Advisory Services Inc. lifted its stake in PPL by 6.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 74,158 shares of the utilities provider’s stock worth $2,407,000 after purchasing an additional 4,272 shares during the last quarter. Essential Planning LLC. acquired a new stake in shares of PPL during the fourth quarter worth $664,000. EverSource Wealth Advisors LLC lifted its position in shares of PPL by 69.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,072 shares of the utilities provider’s stock worth $67,000 after buying an additional 846 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of PPL by 13.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 11,822 shares of the utilities provider’s stock valued at $384,000 after buying an additional 1,399 shares during the period. Finally, Wealth High Governance Capital Ltda bought a new stake in shares of PPL during the 4th quarter valued at about $3,019,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Stock Performance

Shares of PPL opened at $34.95 on Friday. The firm has a market capitalization of $25.80 billion, a PE ratio of 28.88, a P/E/G ratio of 2.77 and a beta of 0.76. The company has a quick ratio of 0.71, a current ratio of 0.86 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average price of $33.69 and a 200 day moving average price of $33.09. PPL Co. has a 52-week low of $25.93 and a 52-week high of $35.91.

PPL (NYSE:PPL) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). PPL had a net margin of 10.49% and a return on equity of 8.88%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.09 billion. On average, sell-side analysts anticipate that PPL Co. will post 1.83 earnings per share for the current fiscal year.

PPL Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from PPL’s previous quarterly dividend of $0.26. PPL’s payout ratio is currently 90.08%.

Insider Activity

In related news, COO David J. Bonenberger sold 981 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total transaction 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 $1,520,460.72. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine M. Martin sold 1,146 shares of PPL stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $34.78, for a total transaction of $39,857.88. Following the completion of the transaction, the insider now owns 37,167 shares in the company, valued at approximately $1,292,668.26. This trade represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,779 shares of company stock worth $386,515 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Citigroup upgraded PPL from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. BMO Capital Markets started coverage on PPL in a research note on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 target price on the stock. Finally, Barclays upped their price target on shares of PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

PPL 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.