Swiss National Bank Sells 14,600 Shares of PPL Corp. (PPL)
Swiss National Bank decreased its position in shares of PPL Corp. (NYSE:PPL) by 0.8% during the third quarter, Holdings Channel reports. The fund owned 1,874,247 shares of the company’s stock after selling 14,600 shares during the period. Swiss National Bank’s holdings in PPL Corp. were worth $64,793,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of PPL. QCI Asset Management Inc. NY raised its stake in PPL Corp. by 1.8% in the second quarter. QCI Asset Management Inc. NY now owns 3,100 shares of the company’s stock worth $117,000 after buying an additional 55 shares during the last quarter. Smithfield Trust Co. raised its stake in PPL Corp. by 25.2% in the third quarter. Smithfield Trust Co. now owns 3,480 shares of the company’s stock worth $120,000 after buying an additional 700 shares during the last quarter. Citizens Financial Group Inc RI raised its stake in PPL Corp. by 4.2% in the second quarter. Citizens Financial Group Inc RI now owns 3,823 shares of the company’s stock worth $145,000 after buying an additional 153 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in PPL Corp. by 97.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,040 shares of the company’s stock worth $153,000 after buying an additional 1,991 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. raised its stake in PPL Corp. by 18.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 4,474 shares of the company’s stock worth $169,000 after buying an additional 683 shares during the last quarter. 69.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of PPL Corp. (NYSE:PPL) opened at 33.46 on Thursday. PPL Corp. has a one year low of $32.08 and a one year high of $39.92. The stock has a market capitalization of $22.74 billion, a P/E ratio of 12.43 and a beta of 0.41. The company’s 50 day moving average price is $33.41 and its 200 day moving average price is $35.84.
PPL Corp. (NYSE:PPL) last issued its earnings results on Tuesday, November 1st. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.05. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $2.04 billion. PPL Corp. had a return on equity of 15.66% and a net margin of 24.59%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. On average, equities analysts expect that PPL Corp. will post $2.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.54%. PPL Corp.’s dividend payout ratio is 56.30%.
Several equities analysts recently weighed in on the company. Credit Suisse Group AG reiterated a “hold” rating and set a $44.00 target price on shares of PPL Corp. in a research report on Friday, August 5th. Jefferies Group reduced their target price on PPL Corp. from $38.00 to $37.00 and set a “hold” rating on the stock in a research report on Wednesday, August 10th. Guggenheim downgraded PPL Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 9th. Argus reduced their target price on PPL Corp. from $45.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, September 9th. Finally, Wolfe Research upgraded PPL Corp. from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 14th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.71.
About PPL Corp.
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. It operates through three segments: U.K.
Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corp. (NYSE:PPL).
Receive News & Ratings for PPL Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL Corp. and related companies with MarketBeat.com's FREE daily email newsletter.