Artemis Investment Management LLP Purchases Shares of 482,692 PPL Co. (NYSE:PPL)

Artemis Investment Management LLP purchased a new stake in shares of PPL Co. (NYSE:PPL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 482,692 shares of the utilities provider's stock, valued at approximately $15,668,000. Artemis Investment Management LLP owned about 0.07% of PPL at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PPL. Sanctuary Advisors LLC grew its position in PPL by 85.7% during the third quarter. Sanctuary Advisors LLC now owns 111,288 shares of the utilities provider's stock worth $3,834,000 after buying an additional 51,366 shares in the last quarter. Jennison Associates LLC raised its holdings in PPL by 2.3% in the 3rd quarter. Jennison Associates LLC now owns 4,260,426 shares of the utilities provider's stock valued at $140,935,000 after buying an additional 96,491 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of PPL by 0.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,407 shares of the utilities provider's stock worth $215,430,000 after purchasing an additional 55,594 shares during the period. DRW Securities LLC acquired a new position in PPL during the 3rd quarter worth about $1,218,000. Finally, Landscape Capital Management L.L.C. bought a new stake in PPL in the third quarter valued at approximately $916,000. Institutional investors own 76.99% of the company's stock.

Wall Street Analysts Forecast Growth

PPL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. began coverage on shares of PPL in a research report on Friday, October 25th. They set an "overweight" rating and a $37.00 price target on the stock. Citigroup increased their price target on PPL from $31.00 to $36.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Bank of America boosted their price objective on PPL from $34.00 to $35.00 and gave the company a "buy" rating in a report on Monday, November 4th. Jefferies Financial Group decreased their price target on shares of PPL from $39.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday, December 17th. Finally, BMO Capital Markets assumed coverage on shares of PPL in a research note on Wednesday, December 11th. They issued an "outperform" rating and a $36.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $34.09.

Insider Activity

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

PPL Stock Performance

PPL traded up $0.10 during trading on Monday, hitting $33.27. 4,793,259 shares of the company traded hands, compared to its average volume of 3,088,047. The firm has a market cap of $24.55 billion, a P/E ratio of 29.71, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. PPL Co. has a one year low of $25.35 and a one year high of $35.15. The stock's fifty day moving average is $33.08 and its 200 day moving average is $31.90.

PPL (NYSE:PPL - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the business posted $0.43 EPS. PPL's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts predict that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were paid a $0.2575 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.10%. PPL's payout ratio is 91.97%.

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.