Cigna Investments Inc. New lowered its stake in PPL Corporation (NYSE:PPL) by 6.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,145 shares of the utilities provider’s stock after selling 1,694 shares during the period. Cigna Investments Inc. New’s holdings in PPL Corporation were worth $1,021,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in PPL. Vanguard Group Inc. boosted its stake in PPL Corporation by 3.0% in the first quarter. Vanguard Group Inc. now owns 48,915,860 shares of the utilities provider’s stock valued at $1,828,963,000 after buying an additional 1,416,622 shares in the last quarter. BlackRock Inc. boosted its stake in PPL Corporation by 3,377.9% in the first quarter. BlackRock Inc. now owns 47,999,937 shares of the utilities provider’s stock valued at $1,794,717,000 after buying an additional 46,619,804 shares in the last quarter. State Street Corp boosted its stake in PPL Corporation by 0.7% in the first quarter. State Street Corp now owns 33,942,872 shares of the utilities provider’s stock valued at $1,269,127,000 after buying an additional 233,142 shares in the last quarter. FMR LLC boosted its stake in PPL Corporation by 11.8% in the first quarter. FMR LLC now owns 17,138,572 shares of the utilities provider’s stock valued at $640,811,000 after buying an additional 1,812,574 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in PPL Corporation by 12.3% in the first quarter. Epoch Investment Partners Inc. now owns 13,918,249 shares of the utilities provider’s stock valued at $520,403,000 after buying an additional 1,524,365 shares in the last quarter. 71.05% of the stock is currently owned by institutional investors.
Shares of PPL Corporation (PPL) opened at 38.75 on Friday. The firm has a market capitalization of $26.58 billion, a PE ratio of 16.22 and a beta of 0.49. The company has a 50 day moving average of $38.38 and a 200 day moving average of $37.71. PPL Corporation has a 52-week low of $32.08 and a 52-week high of $40.20.
PPL Corporation (NYSE:PPL) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. On average, analysts anticipate that PPL Corporation will post $2.16 earnings per share for the current fiscal year.
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PPL has been the topic of several analyst reports. BidaskClub cut shares of PPL Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $43.50 price target (up from $42.00) on shares of PPL Corporation in a research note on Wednesday. Goldman Sachs Group, Inc. (The) raised shares of PPL Corporation from a “sell” rating to a “neutral” rating and raised their price target for the stock from $35.00 to $38.00 in a research note on Monday, June 26th. Zacks Investment Research raised shares of PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Wednesday, July 12th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $41.00 target price (up from $38.00) on shares of PPL Corporation in a research report on Sunday, April 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. PPL Corporation currently has an average rating of “Hold” and an average target price of $38.72.
In other news, insider Gregory N. Dudkin sold 8,228 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $39.55, for a total value of $325,417.40. Following the transaction, the insider now owns 39,693 shares in the company, valued at approximately $1,569,858.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph P. Bergstein, Jr. sold 2,929 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $38.55, for a total value of $112,912.95. The disclosure for this sale can be found here. Insiders sold a total of 19,740 shares of company stock worth $773,067 in the last quarter. 0.42% of the stock is owned by corporate insiders.
About PPL Corporation
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
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