PPL Co. (NYSE:PPL) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its position in shares of PPL Co. (NYSE:PPLGet Rating) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,742 shares of the utilities provider’s stock after acquiring an additional 1,793 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PPL were worth $3,818,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cibc World Market Inc. grew its stake in shares of PPL by 12.3% in the second quarter. Cibc World Market Inc. now owns 8,465 shares of the utilities provider’s stock valued at $230,000 after buying an additional 925 shares in the last quarter. Hunter Associates Investment Management LLC grew its stake in shares of PPL by 101.2% in the second quarter. Hunter Associates Investment Management LLC now owns 17,968 shares of the utilities provider’s stock valued at $488,000 after buying an additional 9,038 shares in the last quarter. Ascent Wealth Partners LLC grew its stake in shares of PPL by 27.5% in the second quarter. Ascent Wealth Partners LLC now owns 43,966 shares of the utilities provider’s stock valued at $1,226,000 after buying an additional 9,484 shares in the last quarter. Cerity Partners LLC grew its stake in shares of PPL by 27.0% in the second quarter. Cerity Partners LLC now owns 18,254 shares of the utilities provider’s stock valued at $496,000 after buying an additional 3,884 shares in the last quarter. Finally, River Wealth Advisors LLC grew its stake in shares of PPL by 14.0% in the second quarter. River Wealth Advisors LLC now owns 83,536 shares of the utilities provider’s stock valued at $2,266,000 after buying an additional 10,271 shares in the last quarter. 69.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. StockNews.com assumed coverage on PPL in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Bank of America upgraded PPL from a “neutral” rating to a “buy” rating and increased their target price for the company from $29.00 to $33.00 in a research note on Monday, August 15th. Evercore ISI increased their price target on PPL to $32.00 in a report on Tuesday, August 9th. Morgan Stanley increased their price target on PPL from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, November 11th. Finally, Wells Fargo & Company reduced their price target on PPL from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.67.

Insiders Place Their Bets

In other PPL news, CFO Joseph P. Bergstein, Jr. sold 20,645 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $30.41, for a total transaction of $627,814.45. Following the transaction, the chief financial officer now owns 31,469 shares of the company’s stock, valued at approximately $956,972.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

PPL Trading Up 1.5 %

NYSE:PPL opened at $28.09 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.82 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $26.75 and its two-hundred day moving average is $27.95. PPL Co. has a 52 week low of $23.47 and a 52 week high of $30.99. The company has a market cap of $20.68 billion, a PE ratio of 29.57 and a beta of 0.77.

PPL Dividend Announcement

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

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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