Tokio Marine Asset Management Co. Ltd. cut its position in shares of PPL Corp. (NYSE:PPL) by 3.2% during the second quarter, Holdings Channel reports. The firm owned 115,807 shares of the company’s stock after selling 3,852 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in PPL Corp. were worth $4,372,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Retirement Systems of Alabama raised its stake in PPL Corp. by 0.6% in the second quarter. Retirement Systems of Alabama now owns 727,815 shares of the company’s stock worth $27,475,000 after buying an additional 4,315 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in PPL Corp. by 1.5% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 585,646 shares of the company’s stock worth $22,109,000 after buying an additional 8,772 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in PPL Corp. by 7.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 81,220 shares of the company’s stock worth $3,092,000 after buying an additional 5,460 shares during the period. CIBC World Markets Inc. raised its stake in PPL Corp. by 14.4% in the second quarter. CIBC World Markets Inc. now owns 81,486 shares of the company’s stock worth $3,076,000 after buying an additional 10,260 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in PPL Corp. by 183.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 220,783 shares of the company’s stock worth $8,405,000 after buying an additional 142,955 shares during the period. Institutional investors and hedge funds own 69.52% of the company’s stock.
Shares of PPL Corp. (NYSE:PPL) traded down 0.83% during mid-day trading on Thursday, hitting $34.82. The stock had a trading volume of 4,647,401 shares. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of 13.51 and a beta of 0.35. The firm has a 50 day moving average of $35.09 and a 200 day moving average of $37.08. PPL Corp. has a one year low of $32.18 and a one year high of $39.92.
PPL Corp. (NYSE:PPL) last posted its earnings results on Tuesday, August 9th. The company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. PPL Corp. had a return on equity of 14.77% and a net margin of 23.56%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. On average, analysts forecast that PPL Corp. will post $2.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.37%. PPL Corp.’s dividend payout ratio (DPR) is currently 58.69%.
PPL has been the subject of a number of recent research reports. Argus lowered their target price on PPL Corp. from $45.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, September 9th. Barclays PLC downgraded PPL Corp. from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $41.00 to $42.00 in a report on Monday, June 27th. Credit Suisse Group AG reissued a “hold” rating and issued a $44.00 price target on shares of PPL Corp. in a report on Friday, August 5th. Vetr raised PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Thursday, July 14th. Finally, Zacks Investment Research raised PPL Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $37.86.
In other PPL Corp. news, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the firm’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $37.06, for a total transaction of $58,591.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert A. Symons sold 13,901 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $37.40, for a total value of $519,897.40. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
PPL Corp. Company Profile
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. It operates through three segments: U.K.
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