PPL Co. (NYSE:PPL) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

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

Several other large investors have also recently made changes to their positions in the company. CWM LLC boosted its position in PPL by 2.8% during the third quarter. CWM LLC now owns 24,549 shares of the utilities provider’s stock worth $812,000 after purchasing an additional 661 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of PPL by 3.1% during the 3rd quarter. Valeo Financial Advisors LLC now owns 12,360 shares of the utilities provider’s stock worth $409,000 after buying an additional 370 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of PPL by 1.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 26,264 shares of the utilities provider’s stock valued at $869,000 after buying an additional 370 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in PPL by 24.4% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,173 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 623 shares during the period. Finally, Procyon Advisors LLC increased its holdings in PPL by 4.1% in the 3rd quarter. Procyon Advisors LLC now owns 17,121 shares of the utilities provider’s stock worth $566,000 after acquiring an additional 678 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PPL

In other PPL news, COO David J. Bonenberger sold 981 shares of the firm’s stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tadd J. Henninger sold 6,639 shares of PPL stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $32.16, for a total value of $213,510.24. Following the completion of the sale, the senior vice president now owns 11,210 shares in the company, valued at $360,513.60. This represents a 37.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,794 shares of company stock valued at $661,338. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of PPL from $34.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. JPMorgan Chase & Co. assumed coverage on shares of PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Citigroup lifted their price objective on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. BMO Capital Markets started coverage on PPL in a report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 target price for the company. Finally, Bank of America lifted their price target on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

PPL Stock Performance

NYSE PPL opened at $34.21 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The stock’s fifty day moving average is $32.84 and its two-hundred day moving average is $32.45. The firm has a market capitalization of $25.24 billion, a P/E ratio of 30.54, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. PPL Co. has a fifty-two week low of $25.60 and a fifty-two week high of $35.15.

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were given a dividend of $0.2575 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.01%. PPL’s payout ratio is 91.97%.

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.