Citigroup Inc. Sells 69,851 Shares of PPL Co. (NYSE:PPL)

Citigroup Inc. decreased its stake in shares of PPL Co. (NYSE:PPL) by 11.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 543,211 shares of the utilities provider’s stock after selling 69,851 shares during the quarter. Citigroup Inc. owned approximately 0.07% of PPL worth $17,969,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its stake in shares of PPL by 195.5% during the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 516 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of PPL in the 3rd quarter worth $34,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of PPL during the second quarter valued at about $29,000. Redwood Wealth Management Group LLC purchased a new position in shares of PPL in the 2nd quarter worth approximately $29,000. Finally, Lynx Investment Advisory acquired a new position in shares of PPL during the second quarter worth $38,000. 76.99% of the stock is owned by hedge funds and other institutional investors.

PPL Trading Up 0.5 %

Shares of NYSE:PPL opened at $35.00 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17. PPL Co. has a 12-month low of $25.35 and a 12-month high of $35.14. The business has a 50 day moving average of $32.89 and a two-hundred day moving average of $30.79. The company has a market capitalization of $25.83 billion, a PE ratio of 31.25, a PEG ratio of 2.97 and a beta of 0.81.

PPL (NYSE:PPL) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. PPL had a net margin of 9.95% and a return on equity of 9.20%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 EPS. As a group, analysts forecast that PPL Co. will post 1.72 EPS for the current year.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Tuesday, December 10th. PPL’s dividend payout ratio (DPR) is presently 91.96%.

Wall Street Analyst Weigh In

PPL has been the subject of several recent analyst reports. Barclays raised their price target on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their target price on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Bank of America raised their price target on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Morgan Stanley boosted their price objective on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group began coverage on PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.50.

Insider Activity at PPL

In related news, insider John R. Crockett III sold 9,161 shares of PPL stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $34.35, for a total value of $314,680.35. Following the sale, the insider now owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. This trade represents a 42.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by company insiders.

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.