QRG Capital Management Inc. Buys 33,131 Shares of PPL Co. (NYSE:PPL)

QRG Capital Management Inc. boosted its position in shares of PPL Co. (NYSE:PPL - Free Report) by 15.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251,757 shares of the utilities provider's stock after purchasing an additional 33,131 shares during the period. QRG Capital Management Inc.'s holdings in PPL were worth $8,172,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of PPL by 5.0% during 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 purchasing an additional 1,720,941 shares during the period. Wellington Management Group LLP boosted its position in PPL by 6.2% in the 3rd 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 during the period. Franklin Resources Inc. boosted its position in PPL by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 34,758,947 shares of the utilities provider's stock valued at $1,115,824,000 after buying an additional 3,731,412 shares during the period. Geode Capital Management LLC grew its stake in PPL by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 17,177,883 shares of the utilities provider's stock worth $566,275,000 after acquiring an additional 201,417 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake 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 valued at $215,430,000 after acquiring an additional 55,594 shares in the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PPL

In other PPL news, COO David J. Bonenberger sold 981 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total transaction of $32,843.88. Following the sale, the chief operating officer now directly owns 45,414 shares of the company's stock, valued at $1,520,460.72. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tadd J. Henninger sold 1,424 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total transaction of $47,675.52. Following the transaction, the senior vice president now owns 11,259 shares in the company, valued at approximately $376,951.32. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,633 shares of company stock valued at $346,657. 0.22% of the stock is owned by company insiders.

PPL Price Performance

PPL stock traded up $0.46 during trading on Monday, hitting $35.67. The stock had a trading volume of 3,377,513 shares, compared to its average volume of 4,553,364. PPL Co. has a twelve month low of $25.93 and a twelve month high of $35.69. The company's 50-day moving average price is $33.29 and its two-hundred day moving average price is $32.89. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.71. The stock has a market capitalization of $26.33 billion, a P/E ratio of 29.48, a PEG ratio of 2.77 and a beta of 0.83.

PPL (NYSE:PPL - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). PPL had a net margin of 10.49% and a return on equity of 8.88%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.09 billion. As a group, research analysts predict that PPL Co. will post 1.83 EPS for the current fiscal year.

PPL Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $0.2725 dividend. This is a boost from PPL's previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, March 10th. PPL's dividend payout ratio (DPR) is currently 90.08%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays increased their target price on shares of PPL from $33.00 to $36.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 25th. Citigroup lifted their price objective on shares of PPL from $31.00 to $36.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. BMO Capital Markets started coverage on shares of PPL in a research note on Wednesday, December 11th. They issued an "outperform" rating and a $36.00 price objective for the company. Jefferies Financial Group dropped their target price on PPL from $39.00 to $38.00 and set a "buy" rating on the stock in a research report on Tuesday, December 17th. Finally, Bank of America boosted their price target on PPL from $34.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $34.27.

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.