Atlantic Trust Group LLC Cuts Position in PPL Corporation (PPL)

Atlantic Trust Group LLC trimmed its holdings in shares of PPL Corporation (NYSE:PPL) by 5.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,551 shares of the utilities provider’s stock after selling 1,448 shares during the quarter. Atlantic Trust Group LLC’s holdings in PPL Corporation were worth $910,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kistler Tiffany Companies LLC increased its holdings in PPL Corporation by 0.4% during the first quarter. Kistler Tiffany Companies LLC now owns 4,084 shares of the utilities provider’s stock valued at $153,000 after buying an additional 15 shares during the period. Parallel Advisors LLC increased its holdings in PPL Corporation by 6.1% during the first quarter. Parallel Advisors LLC now owns 4,249 shares of the utilities provider’s stock valued at $161,000 after buying an additional 243 shares during the period. Focused Wealth Management Inc increased its holdings in PPL Corporation by 352.0% during the first quarter. Focused Wealth Management Inc now owns 4,366 shares of the utilities provider’s stock valued at $163,000 after buying an additional 3,400 shares during the period. SRS Capital Advisors Inc. increased its holdings in PPL Corporation by 0.9% during the first quarter. SRS Capital Advisors Inc. now owns 4,434 shares of the utilities provider’s stock valued at $165,000 after buying an additional 38 shares during the period. Finally, Assetmark Inc. increased its holdings in PPL Corporation by 11.3% during the first quarter. Assetmark Inc. now owns 4,933 shares of the utilities provider’s stock valued at $184,000 after buying an additional 499 shares during the period. 70.95% of the stock is currently owned by institutional investors.

Shares of PPL Corporation (NYSE:PPL) opened at 39.83 on Tuesday. The firm has a 50-day moving average of $38.90 and a 200 day moving average of $38.33. The firm has a market capitalization of $27.32 billion, a P/E ratio of 16.67 and a beta of 0.49. PPL Corporation has a 52 week low of $32.08 and a 52 week high of $40.20.

PPL Corporation (NYSE:PPL) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. PPL Corporation had a net margin of 22.08% and a return on equity of 15.96%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the firm posted $0.56 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts expect that PPL Corporation will post $2.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, September 7th. PPL Corporation’s dividend payout ratio is presently 66.11%.

PPL has been the topic of several research reports. Zacks Investment Research lowered shares of PPL Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. ValuEngine upgraded shares of PPL Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub downgraded shares of PPL Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) upgraded shares of PPL Corporation from a “sell” rating to a “neutral” rating and raised their target price for the company from $35.00 to $38.00 in a research note on Monday, June 26th. Finally, Jefferies Group LLC upgraded shares of PPL Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $39.50 to $42.00 in a research note on Wednesday, July 19th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $38.94.

In other PPL Corporation news, SVP Joanne H. Raphael sold 35,651 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $39.50, for a total value of $1,408,214.50. Following the sale, the senior vice president now directly owns 52,450 shares of the company’s stock, valued at approximately $2,071,775. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Joseph P. Bergstein, Jr. sold 2,929 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $38.55, for a total transaction of $112,912.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,391 shares of company stock worth $2,181,282. Insiders own 0.40% of the company’s stock.

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About PPL Corporation

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. PPL operates through U.K.

Institutional Ownership by Quarter for PPL Corporation (NYSE:PPL)

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