Integrated Wealth Concepts LLC Sells 537 Shares of PPL Co. (NYSE:PPL)

Integrated Wealth Concepts LLC lessened its stake in PPL Co. (NYSE:PPL) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,402 shares of the utilities provider’s stock after selling 537 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in PPL were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Great Valley Advisor Group Inc. boosted its holdings in PPL by 31.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,395 shares of the utilities provider’s stock worth $481,000 after buying an additional 4,204 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of PPL during the second quarter valued at approximately $284,000. Blue Trust Inc. raised its position in shares of PPL by 16.8% in the 2nd quarter. Blue Trust Inc. now owns 4,030 shares of the utilities provider’s stock worth $111,000 after acquiring an additional 581 shares in the last quarter. Gradient Investments LLC lifted its position in shares of PPL by 767.6% during the second quarter. Gradient Investments LLC now owns 3,028 shares of the utilities provider’s stock valued at $84,000 after buying an additional 2,679 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its position in PPL by 3.3% during the second quarter. Foster Victor Wealth Advisors LLC now owns 189,090 shares of the utilities provider’s stock valued at $5,349,000 after acquiring an additional 6,031 shares during the last quarter. Institutional investors own 76.99% of the company’s stock.

Wall Street Analyst Weigh In

PPL has been the subject of a number of research reports. Wells Fargo & Company upped their target price on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays lifted their price target on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. BMO Capital Markets assumed coverage on PPL in a report on Wednesday. They issued an “outperform” rating and a $36.00 target price for the company. JPMorgan Chase & Co. initiated coverage on PPL in a research report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective for the company. Finally, Citigroup lifted their price target on shares of PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, PPL currently has a consensus rating of “Moderate Buy” and an average target price of $34.09.

Insider Buying and Selling

In related news, insider John R. Crockett III sold 9,161 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $34.35, for a total transaction of $314,680.35. Following the completion of the transaction, the insider now owns 12,434 shares in the company, valued at $427,107.90. This trade represents a 42.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

PPL Stock Performance

Shares of PPL stock opened at $32.29 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The stock has a market capitalization of $23.83 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 2.90 and a beta of 0.82. PPL Co. has a one year low of $25.35 and a one year high of $35.15. The company’s 50-day simple moving average is $33.13 and its 200-day simple moving average is $31.11.

PPL (NYSE:PPL) last issued its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. PPL had a return on equity of 9.20% and a net margin of 9.95%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the company posted $0.43 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts anticipate that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.19%. PPL’s dividend payout ratio (DPR) is 91.96%.

PPL Company Profile

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.