International Assets Investment Management LLC Sells 205,995 Shares of PPL Co. (NYSE:PPL)

International Assets Investment Management LLC decreased its holdings in shares of PPL Co. (NYSE:PPL) by 97.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,428 shares of the utilities provider’s stock after selling 205,995 shares during the period. International Assets Investment Management LLC’s holdings in PPL were worth $207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC raised its position in PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 516 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of PPL during the 3rd quarter worth approximately $34,000. Redwood Wealth Management Group LLC purchased a new position in shares of PPL during the 2nd quarter worth approximately $29,000. Covestor Ltd grew its holdings in shares of PPL by 139.2% during the 3rd quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 880 shares during the period. Finally, McClarren Financial Advisors Inc. grew its holdings in shares of PPL by 5,759.3% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,582 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 1,555 shares during the period. Institutional investors own 76.99% of the company’s stock.

Analyst Ratings Changes

PPL has been the topic of a number of research analyst reports. Barclays upgraded PPL from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. initiated coverage on PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 target price on the stock. Wells Fargo & Company upped their target price on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. 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, Jefferies Financial Group cut their price target on PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.09.

PPL Stock Performance

PPL stock opened at $31.68 on Tuesday. The stock has a market capitalization of $23.38 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 2.78 and a beta of 0.83. PPL Co. has a 12-month low of $25.35 and a 12-month high of $35.15. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17. The stock’s 50 day simple moving average is $33.08 and its 200 day simple moving average is $31.75.

PPL (NYSE:PPL) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.10 billion. PPL had a return on equity of 9.20% and a net margin of 9.95%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 EPS. As a group, research analysts forecast that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors 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 annualized dividend and a yield of 3.25%. PPL’s dividend payout ratio (DPR) is presently 91.96%.

Insider Activity at PPL

In other news, insider John R. Crockett III sold 9,161 shares of the stock in a transaction 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 transaction, the insider now directly owns 12,434 shares of the company’s stock, valued at $427,107.90. This represents a 42.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Tadd J. Henninger sold 6,639 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $32.16, for a total value of $213,510.24. Following the transaction, the senior vice president now directly owns 11,210 shares in the company, valued at $360,513.60. The trade was a 37.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.

PPL 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.