Stonebridge Financial Group LLC Acquires Shares of 18,483 PPL Co. (NYSE:PPL)

Stonebridge Financial Group LLC bought a new position in shares of PPL Co. (NYSE:PPL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,483 shares of the utilities provider’s stock, valued at approximately $600,000.

Other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC raised its position in PPL by 85.7% during the third quarter. Sanctuary Advisors LLC now owns 111,288 shares of the utilities provider’s stock worth $3,834,000 after acquiring an additional 51,366 shares during the period. Jennison Associates LLC increased its stake in shares of PPL by 2.3% during the third quarter. Jennison Associates LLC now owns 4,260,426 shares of the utilities provider’s stock worth $140,935,000 after purchasing an additional 96,491 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PPL by 0.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,512,407 shares of the utilities provider’s stock worth $215,430,000 after purchasing an additional 55,594 shares during the last quarter. DRW Securities LLC purchased a new position in PPL in the 3rd quarter valued at about $1,218,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in PPL in the 3rd quarter worth about $916,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Jefferies Financial Group reduced their target price on PPL from $39.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. JPMorgan Chase & Co. initiated coverage on shares of PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 target price for the company. 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 research note on Monday, November 4th. Citigroup upped their price objective on shares of PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets assumed coverage on shares of PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price objective for the company. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Insider Buying and Selling at PPL

In other news, insider John R. Crockett III sold 9,161 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Tadd J. Henninger sold 1,424 shares of the company’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 $47,675.52. Following the sale, the senior vice president now directly owns 11,259 shares in the company, valued at approximately $376,951.32. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,794 shares of company stock valued at $661,338 over the last 90 days. 0.22% of the stock is owned by insiders.

PPL Stock Up 0.9 %

PPL stock opened at $34.53 on Wednesday. The firm has a market cap of $25.48 billion, a PE ratio of 30.83, a PEG ratio of 2.75 and a beta of 0.83. PPL Co. has a one year low of $25.60 and a one year high of $35.15. 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 firm’s 50 day moving average price is $32.83 and its 200-day moving average price is $32.48.

PPL Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Tuesday, December 10th. PPL’s dividend payout ratio (DPR) is presently 91.96%.

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.