3,030 Shares in PPL Co. (NYSE:PPL) Acquired by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. acquired a new stake in shares of PPL Co. (NYSE:PPL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,030 shares of the utilities provider’s stock, valued at approximately $98,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its holdings in shares of 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 in the last quarter. Wellington Management Group LLP boosted its stake in PPL by 6.2% in the third quarter. Wellington Management Group LLP now owns 35,089,490 shares of the utilities provider’s stock valued at $1,160,760,000 after buying an additional 2,050,122 shares in the last quarter. State Street Corp grew its position in PPL by 5.0% in the third quarter. State Street Corp now owns 36,459,099 shares of the utilities provider’s stock valued at $1,215,363,000 after acquiring an additional 1,720,941 shares during the last quarter. National Bank of Canada FI raised its stake in PPL by 322.6% during the third quarter. National Bank of Canada FI now owns 1,223,128 shares of the utilities provider’s stock worth $40,461,000 after acquiring an additional 933,723 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PPL by 5,390.2% in the third quarter. Assenagon Asset Management S.A. now owns 563,015 shares of the utilities provider’s stock worth $18,625,000 after acquiring an additional 552,760 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors.

PPL Price Performance

Shares of PPL opened at $34.21 on Tuesday. The business has a 50-day moving average of $32.84 and a 200-day moving average of $32.45. PPL Co. has a 1 year low of $25.60 and a 1 year high of $35.15. The company has a market capitalization of $25.24 billion, a price-to-earnings ratio of 30.54, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07.

PPL Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were given a $0.2575 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 91.97%.

Insider Transactions at PPL

In other news, insider John R. Crockett III sold 9,161 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was 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 of the company’s stock, valued at $427,107.90. The trade was a 42.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Tadd J. Henninger sold 1,424 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 $47,675.52. Following the sale, the senior vice president now directly owns 11,259 shares of the company’s stock, valued at $376,951.32. This represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,794 shares of company stock worth $661,338. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PPL shares. Barclays lowered their price objective 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. Jefferies Financial Group lowered their price target on shares of PPL from $39.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. JPMorgan Chase & Co. assumed coverage on PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 price objective on the stock. Citigroup upped their target price on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets started coverage on PPL in a research note on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price target on the stock. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus 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.