Arrowstreet Capital Limited Partnership Trims Stock Position in PPL Co. (NYSE:PPL)

Arrowstreet Capital Limited Partnership lessened its position in shares of PPL Co. (NYSE:PPL - Free Report) by 96.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,938 shares of the utilities provider's stock after selling 1,992,377 shares during the period. Arrowstreet Capital Limited Partnership's holdings in PPL were worth $2,173,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PPL. Kentucky Trust Co bought a new position in PPL in the 4th quarter valued at $32,000. Lee Danner & Bass Inc. purchased a new stake in PPL during the fourth quarter valued at about $32,000. Rosenberg Matthew Hamilton grew its position in PPL by 1,092.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider's stock worth $39,000 after acquiring an additional 1,114 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of PPL by 84.5% in the fourth quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider's stock worth $41,000 after purchasing an additional 579 shares during the last quarter. Finally, Newton One Investments LLC purchased a new position in shares of PPL in the fourth quarter valued at about $49,000. Institutional investors own 76.99% of the company's stock.

PPL Stock Performance

PPL stock traded up $0.21 during midday trading on Wednesday, hitting $35.58. The stock had a trading volume of 379,633 shares, compared to its average volume of 4,798,071. The firm's fifty day moving average is $34.65 and its two-hundred day moving average is $33.52. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $26.29 billion, a PE ratio of 29.36, a P/E/G ratio of 2.77 and a beta of 0.65. PPL Co. has a 52-week low of $25.93 and a 52-week high of $36.64.

PPL (NYSE:PPL - Get Free Report) last issued its earnings results on Thursday, February 13th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.09 billion. PPL had a net margin of 10.49% and a return on equity of 8.88%. On average, research analysts forecast that PPL Co. will post 1.83 EPS for the current year.

PPL Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 3.06%. This is a boost from PPL's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, March 10th. PPL's payout ratio is 90.08%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PPL shares. Citigroup raised PPL from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Jefferies Financial Group lowered their target price 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. UBS Group upped their price target on shares of PPL from $35.00 to $36.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Barclays upped their price objective on PPL from $33.00 to $36.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 25th. Finally, Morgan Stanley raised their price target on shares of PPL from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.70.

Insiders Place Their Bets

In other PPL news, insider Christine M. Martin sold 1,146 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.78, for a total value of $39,857.88. Following the completion of the sale, the insider now owns 37,167 shares of the company's stock, valued at $1,292,668.26. This trade represents a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John R. Crockett III sold 1,589 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $33.12, for a total value of $52,627.68. Following the sale, the insider now directly owns 10,845 shares of the company's stock, valued at $359,186.40. This represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,140 shares of company stock valued at $173,005 in the last quarter. 0.22% of the stock is currently owned by insiders.

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.