Kestra Private Wealth Services LLC Has $810,000 Stake in PPL Co. (NYSE:PPL)

Kestra Private Wealth Services LLC decreased its position in PPL Co. (NYSE:PPLGet Rating) by 12.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,347 shares of the utilities provider’s stock after selling 3,940 shares during the period. Kestra Private Wealth Services LLC’s holdings in PPL were worth $810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mondrian Investment Partners LTD raised its holdings in shares of PPL by 15.2% during the first quarter. Mondrian Investment Partners LTD now owns 2,764 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 365 shares during the period. Steel Peak Wealth Management LLC raised its holdings in shares of PPL by 2.2% during the first quarter. Steel Peak Wealth Management LLC now owns 17,081 shares of the utilities provider’s stock valued at $488,000 after purchasing an additional 365 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of PPL by 1.8% during the first quarter. Wealthcare Advisory Partners LLC now owns 20,851 shares of the utilities provider’s stock valued at $596,000 after purchasing an additional 373 shares during the period. Eaton Vance Management raised its holdings in shares of PPL by 0.7% during the fourth quarter. Eaton Vance Management now owns 55,011 shares of the utilities provider’s stock valued at $1,284,000 after purchasing an additional 385 shares during the period. Finally, Boenning & Scattergood Inc. raised its holdings in shares of PPL by 1.5% during the first quarter. Boenning & Scattergood Inc. now owns 26,993 shares of the utilities provider’s stock valued at $771,000 after purchasing an additional 387 shares during the period. Institutional investors and hedge funds own 69.45% of the company’s stock.

Insiders Place Their Bets

In other PPL news, CFO Joseph P. Bergstein, Jr. sold 20,645 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $30.41, for a total value of $627,814.45. Following the completion of the sale, the chief financial officer now directly owns 31,469 shares of the company’s stock, valued at approximately $956,972.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Joseph P. Bergstein, Jr. sold 20,645 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $30.41, for a total transaction of $627,814.45. Following the completion of the transaction, the chief financial officer now directly owns 31,469 shares of the company’s stock, valued at approximately $956,972.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Sorgi sold 27,600 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $30.00, for a total transaction of $828,000.00. Following the transaction, the chief executive officer now directly owns 111,462 shares of the company’s stock, valued at $3,343,860. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,275 shares of company stock valued at $2,267,778. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

PPL has been the topic of several research reports. Bank of America upgraded shares of PPL from a “neutral” rating to a “buy” rating and upped their price objective for the company from $29.00 to $33.00 in a report on Monday, August 15th. Credit Suisse Group decreased their target price on shares of PPL from $33.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, June 16th. Evercore ISI boosted their target price on shares of PPL to $32.00 in a research report on Tuesday, August 9th. TheStreet raised shares of PPL from a “c+” rating to a “b” rating in a research report on Wednesday, September 7th. Finally, Mizuho decreased their target price on shares of PPL from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, July 14th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and an average target price of $30.75.

PPL Trading Up 0.1 %

Shares of PPL stock opened at $28.92 on Friday. PPL Co. has a 52-week low of $24.98 and a 52-week high of $30.99. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.53 and a current ratio of 0.62. The company has a 50-day simple moving average of $28.97 and a two-hundred day simple moving average of $28.44. The company has a market capitalization of $21.29 billion, a price-to-earnings ratio of 29.51 and a beta of 0.74.

PPL Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Thursday, September 8th. PPL’s payout ratio is 91.84%.

About PPL

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PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through two segments: Kentucky Regulated and Pennsylvania Regulated. It serves approximately 429,000 electric and 333,000 natural gas customers in Louisville and adjacent areas in Kentucky; 538,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in five counties in southwestern Virginia.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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