Sumitomo Mitsui Trust Group Inc. Cuts Stake in PPL Co. (NYSE:PPL)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of PPL Co. (NYSE:PPL) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,621,949 shares of the utilities provider’s stock after selling 27,827 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of PPL worth $52,648,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Fortitude Family Office LLC grew its holdings in shares of PPL by 195.5% during the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 516 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in PPL in the 3rd quarter worth approximately $34,000. Rosenberg Matthew Hamilton grew its stake in PPL by 1,092.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock worth $39,000 after buying an additional 1,114 shares in the last quarter. Newton One Investments LLC bought a new position in shares of PPL in the 4th quarter worth $49,000. Finally, Covestor Ltd raised its position in shares of PPL by 139.2% during the 3rd quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock valued at $50,000 after buying an additional 880 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Insider Buying and Selling

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

PPL Trading Up 0.2 %

NYSE:PPL opened at $34.21 on Tuesday. The firm has a market capitalization of $25.24 billion, a P/E ratio of 30.54, a P/E/G ratio of 2.75 and a beta of 0.83. PPL Co. has a 52 week low of $25.60 and a 52 week high of $35.15. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. The company has a fifty day moving average of $32.84 and a 200 day moving average of $32.45.

PPL Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.2575 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.01%. PPL’s dividend payout ratio is currently 91.97%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays cut their target price on shares of PPL from $34.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Citigroup upped 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. Bank of America raised their price objective on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. started coverage on PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price for the company. Finally, Jefferies Financial Group decreased their price target on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Four 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, PPL currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

About PPL

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.