Baird Financial Group Inc. Sells 159,251 Shares of PPL Co. (NYSE:PPL)

Baird Financial Group Inc. lowered its position in PPL Co. (NYSE:PPLGet Rating) by 83.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,045 shares of the utilities provider’s stock after selling 159,251 shares during the period. Baird Financial Group Inc.’s holdings in PPL were worth $843,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in shares of PPL by 7.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 96,533 shares of the utilities provider’s stock worth $2,619,000 after acquiring an additional 7,045 shares in the last quarter. Bank of Nova Scotia raised its position in shares of PPL by 1,003.0% in the 2nd quarter. Bank of Nova Scotia now owns 1,312,867 shares of the utilities provider’s stock worth $35,618,000 after acquiring an additional 1,193,843 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of PPL by 13.5% in the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,142 shares of the utilities provider’s stock worth $682,000 after acquiring an additional 2,983 shares in the last quarter. Kentucky Retirement Systems raised its position in shares of PPL by 14.1% in the 2nd quarter. Kentucky Retirement Systems now owns 54,618 shares of the utilities provider’s stock worth $1,482,000 after acquiring an additional 6,767 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in PPL by 11.2% during the 2nd quarter. State of Michigan Retirement System now owns 241,248 shares of the utilities provider’s stock valued at $6,545,000 after buying an additional 24,300 shares in the last quarter. Institutional investors own 69.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. TheStreet lowered PPL from a “b” rating to a “c” rating in a research report on Thursday, October 20th. Evercore ISI raised their price objective on PPL to $32.00 in a research report on Tuesday, August 9th. Wells Fargo & Company reduced their price objective on PPL from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, October 19th. Seaport Res Ptn raised PPL from a “neutral” rating to a “buy” rating in a research report on Thursday, October 6th. Finally, Morgan Stanley raised their price objective on PPL from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, November 11th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.67.

Insider Transactions at PPL

In other news, CFO Joseph P. Bergstein, Jr. sold 20,645 shares of the firm’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 transaction, the chief financial officer now directly owns 31,469 shares in the company, valued at approximately $956,972.29. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

PPL Stock Up 1.5 %

PPL stock opened at $28.09 on Monday. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 29.57 and a beta of 0.77. The stock has a fifty day simple moving average of $26.75 and a two-hundred day simple moving average of $27.95. PPL Co. has a 12 month low of $23.47 and a 12 month high of $30.99. The company has a current ratio of 0.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.93.

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be paid a $0.225 dividend. The ex-dividend date is Thursday, December 8th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.20%. PPL’s dividend payout ratio (DPR) is currently 94.74%.

PPL Company 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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