Fifth Third Bancorp Increases Position in PPL Co. (NYSE:PPL)

Fifth Third Bancorp grew its position in PPL Co. (NYSE:PPLFree Report) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,527 shares of the utilities provider’s stock after purchasing an additional 430 shares during the quarter. Fifth Third Bancorp’s holdings in PPL were worth $829,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PPL. Franklin Resources Inc. lifted its holdings in PPL by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 34,758,947 shares of the utilities provider’s stock worth $1,115,824,000 after buying an additional 3,731,412 shares during the last quarter. Wellington Management Group LLP raised its position in shares of PPL by 6.2% during the 3rd quarter. Wellington Management Group LLP now owns 35,089,490 shares of the utilities provider’s stock worth $1,160,760,000 after acquiring an additional 2,050,122 shares in the last quarter. State Street Corp lifted its stake in PPL by 5.0% during the third quarter. State Street Corp now owns 36,459,099 shares of the utilities provider’s stock worth $1,215,363,000 after purchasing an additional 1,720,941 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in PPL by 25.3% in the second quarter. Clearbridge Investments LLC now owns 5,890,854 shares of the utilities provider’s stock valued at $162,882,000 after purchasing an additional 1,189,339 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in PPL by 322.6% in the third quarter. National Bank of Canada FI now owns 1,223,128 shares of the utilities provider’s stock valued at $40,461,000 after purchasing an additional 933,723 shares during the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

PPL Trading Down 0.1 %

Shares of PPL stock opened at $32.81 on Thursday. The firm has a market cap of $24.21 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 2.64 and a beta of 0.83. PPL Co. has a 52-week low of $25.35 and a 52-week high of $35.15. The company’s 50-day simple moving average is $33.00 and its 200-day simple moving average is $32.16. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17.

PPL (NYSE:PPLGet Free Report) last released its earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. PPL had a return on equity of 9.20% and a net margin of 9.95%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that PPL Co. will post 1.72 earnings per share for the current year.

PPL Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were given a dividend of $0.2575 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.14%. PPL’s payout ratio is currently 91.97%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PPL shares. Barclays lowered their target price on shares of PPL from $34.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Citigroup raised their price objective on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. initiated coverage on PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price for the company. Bank of America raised their price target on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, BMO Capital Markets assumed coverage on PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price objective for the company. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.00.

Get Our Latest Report on PPL

Insider Transactions at PPL

In related news, COO David J. Bonenberger sold 981 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total value of $32,843.88. Following the completion of the transaction, the chief operating officer now directly owns 45,414 shares of the company’s stock, valued at $1,520,460.72. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John R. Crockett III sold 9,161 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $34.35, for a total value of $314,680.35. Following the sale, the insider now owns 12,434 shares in the company, valued at approximately $427,107.90. The trade was a 42.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,794 shares of company stock valued at $661,338 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

About PPL

(Free Report)

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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