Wilmington Savings Fund Society FSB Sells 804 Shares of PPL Co. (NYSE:PPL)

Wilmington Savings Fund Society FSB lessened its position in PPL Co. (NYSE:PPL) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 40,365 shares of the utilities provider’s stock after selling 804 shares during the period. Wilmington Savings Fund Society FSB’s holdings in PPL were worth $1,310,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC increased its position 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 worth $26,000 after acquiring an additional 516 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of PPL in the third quarter valued at about $34,000. Rosenberg Matthew Hamilton boosted its holdings in PPL by 1,092.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 1,114 shares during the last quarter. Covestor Ltd grew its position in PPL by 139.2% in the 3rd quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 880 shares in the last quarter. Finally, Newton One Investments LLC bought a new position in shares of PPL during the 4th quarter worth approximately $49,000. Institutional investors own 76.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PPL shares. Citigroup lifted their price target on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Bank of America lifted their price objective on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. BMO Capital Markets initiated coverage on shares of PPL in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target on the stock. Jefferies Financial Group reduced their price objective 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. Finally, JPMorgan Chase & Co. assumed coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, PPL has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Transactions at PPL

In related news, COO David J. Bonenberger sold 981 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total transaction of $32,843.88. Following the completion of the transaction, the chief operating officer now owns 45,414 shares of the company’s stock, valued at $1,520,460.72. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John R. Crockett III sold 9,161 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $34.35, for a total transaction of $314,680.35. Following the sale, the insider now directly owns 12,434 shares in the company, valued at $427,107.90. This trade represents a 42.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,794 shares of company stock valued at $661,338. Company insiders own 0.22% of the company’s stock.

PPL Stock Up 0.0 %

Shares of NYSE PPL opened at $34.12 on Monday. The firm’s fifty day moving average is $32.84 and its 200 day moving average is $32.42. PPL Co. has a 52 week low of $25.35 and a 52 week high of $35.15. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. The company has a market cap of $25.18 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 2.75 and a beta of 0.83.

PPL Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were issued a $0.2575 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.03 annualized dividend and a yield of 3.02%. PPL’s dividend payout ratio (DPR) is presently 91.97%.

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.