Moody National Bank Trust Division Invests $260,000 in PPL Co. (NYSE:PPL)

Moody National Bank Trust Division acquired a new position in PPL Co. (NYSE:PPLGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 9,591 shares of the utilities provider’s stock, valued at approximately $260,000.

Several other large investors have also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in PPL by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 14,041,243 shares of the utilities provider’s stock valued at $421,814,000 after purchasing an additional 186,364 shares during the period. FineMark National Bank & Trust purchased a new position in PPL during the 4th quarter valued at about $246,000. Invesco Ltd. increased its holdings in PPL by 7.3% during the 4th quarter. Invesco Ltd. now owns 12,108,840 shares of the utilities provider’s stock valued at $363,991,000 after purchasing an additional 824,795 shares during the period. Hilltop Holdings Inc. increased its holdings in PPL by 5.9% during the 4th quarter. Hilltop Holdings Inc. now owns 13,841 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 776 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in PPL by 14.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 204,584 shares of the utilities provider’s stock valued at $6,149,000 after purchasing an additional 25,490 shares during the period. Hedge funds and other institutional investors own 69.45% of the company’s stock.

Analysts Set New Price Targets

PPL has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on PPL in a report on Monday, May 30th. They set a “buy” rating on the stock. Mizuho cut their price objective on PPL from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, July 14th. StockNews.com cut PPL from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Morgan Stanley boosted their price target on PPL from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 21st. Finally, Credit Suisse Group dropped their price target on PPL from $33.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, June 16th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

PPL Price Performance

Shares of PPL opened at $28.90 on Wednesday. The firm has a market cap of $21.28 billion, a PE ratio of 29.49 and a beta of 0.74. The company has a current ratio of 0.62, a quick ratio of 0.53 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $29.02 and a two-hundred day simple moving average of $28.50. PPL Co. has a 1-year low of $24.98 and a 1-year high of $30.99.

PPL Announces Dividend

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 paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.90 dividend on an annualized basis and a yield of 3.11%. PPL’s dividend payout ratio is presently 91.84%.

Insider Buying and Selling at PPL

In other PPL news, CEO Vincent Sorgi sold 27,553 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $29.00, for a total transaction of $799,037.00. Following the completion of the sale, the chief executive officer now directly owns 111,462 shares in the company, valued at approximately $3,232,398. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Vincent Sorgi sold 27,553 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $29.00, for a total value of $799,037.00. Following the completion of the sale, the chief executive officer now directly owns 111,462 shares in the company, valued at approximately $3,232,398. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph P. Bergstein, Jr. sold 20,645 shares of the company’s stock in a transaction on Friday, August 26th. The stock was 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 owns 31,469 shares of the company’s stock, valued at $956,972.29. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,275 shares of company stock worth $2,267,778. Insiders own 0.17% of the company’s stock.

PPL Profile

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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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