Creative Planning lifted its stake in shares of PPL Corp (NYSE:PPL) by 27.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,755 shares of the utilities provider’s stock after purchasing an additional 21,376 shares during the period. Creative Planning’s holdings in PPL were worth $3,056,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Prudential Financial Inc. increased its position in shares of PPL by 16.5% during the third quarter. Prudential Financial Inc. now owns 5,030,604 shares of the utilities provider’s stock worth $190,912,000 after acquiring an additional 714,250 shares during the period. Bank of Montreal Can increased its holdings in PPL by 41.9% in the fourth quarter. Bank of Montreal Can now owns 2,654,343 shares of the utilities provider’s stock valued at $82,152,000 after buying an additional 783,951 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in PPL by 2.3% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,632,511 shares of the utilities provider’s stock valued at $99,904,000 after buying an additional 60,397 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in PPL by 0.3% in the second quarter. Lord Abbett & CO. LLC now owns 2,435,800 shares of the utilities provider’s stock valued at $94,168,000 after buying an additional 7,000 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in PPL by 0.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,997,296 shares of the utilities provider’s stock valued at $75,797,000 after buying an additional 15,900 shares during the last quarter. Hedge funds and other institutional investors own 70.50% of the company’s stock.
Several brokerages have issued reports on PPL. SunTrust Banks set a $37.00 price objective on shares of PPL and gave the company a “buy” rating in a research report on Monday. ValuEngine cut shares of PPL from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. UBS Group started coverage on shares of PPL in a research note on Friday, February 2nd. They issued a “buy” rating and a $40.00 target price for the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $33.00 target price on shares of PPL in a research note on Thursday, February 1st. Finally, Deutsche Bank raised shares of PPL from a “hold” rating to a “buy” rating and lowered their target price for the stock from $39.00 to $36.00 in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. PPL has an average rating of “Hold” and an average target price of $37.95.
In other news, Chairman Victor A. Staffieri sold 19,524 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $31.60, for a total value of $616,958.40. Following the completion of the sale, the chairman now directly owns 29,084 shares of the company’s stock, valued at approximately $919,054.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joanne H. Raphael sold 5,045 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $31.60, for a total transaction of $159,422.00. Following the completion of the sale, the senior vice president now directly owns 24,080 shares of the company’s stock, valued at $760,928. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,163 shares of company stock valued at $1,395,587. Insiders own 0.40% of the company’s stock.
PPL Corp (PPL) traded down $0.43 on Wednesday, hitting $30.27. 4,341,322 shares of the stock traded hands, compared to its average volume of 6,530,000. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.56 and a quick ratio of 0.48. PPL Corp has a one year low of $29.20 and a one year high of $40.20. The company has a market cap of $20,840.00, a P/E ratio of 13.70, a P/E/G ratio of 1.87 and a beta of 0.46.
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PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
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