AE Wealth Management LLC Has $17.41 Million Stock Holdings in PPL Corporation (NYSE:PPL)

AE Wealth Management LLC raised its stake in PPL Corporation (NYSE:PPL - Free Report) by 23.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 482,210 shares of the utilities provider's stock after buying an additional 90,727 shares during the quarter. AE Wealth Management LLC owned 0.07% of PPL worth $17,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPL. Sei Investments Co. raised its position in shares of PPL by 10.6% during the fourth quarter. Sei Investments Co. now owns 443,014 shares of the utilities provider's stock worth $14,380,000 after purchasing an additional 42,456 shares during the period. LPL Financial LLC raised its holdings in PPL by 8.0% during the 4th quarter. LPL Financial LLC now owns 1,305,451 shares of the utilities provider's stock worth $42,375,000 after buying an additional 96,664 shares during the period. Vanguard Group Inc. lifted its stake in PPL by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 91,859,527 shares of the utilities provider's stock valued at $2,981,760,000 after buying an additional 750,033 shares in the last quarter. Congress Wealth Management LLC DE boosted its holdings in shares of PPL by 40.7% in the fourth quarter. Congress Wealth Management LLC DE now owns 19,392 shares of the utilities provider's stock valued at $629,000 after buying an additional 5,613 shares during the period. Finally, Corebridge Financial Inc. increased its position in shares of PPL by 37.0% during the fourth quarter. Corebridge Financial Inc. now owns 319,309 shares of the utilities provider's stock worth $10,365,000 after acquiring an additional 86,227 shares in the last quarter. Institutional investors own 76.99% of the company's stock.

Insider Activity at PPL

In other PPL news, COO David J. Bonenberger sold 1,767 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $34.98, for a total value of $61,809.66. Following the transaction, the chief operating officer directly owned 45,485 shares of the company's stock, valued at $1,591,065.30. This represents a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays upgraded shares of PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Wall Street Zen upgraded PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Morgan Stanley decreased their price objective on PPL from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Finally, Guggenheim raised their price target on shares of PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, PPL currently has an average rating of "Buy" and an average price target of $36.70.

PPL Stock Performance

NYSE PPL traded up $0.12 during trading on Thursday, reaching $36.61. 5,838,193 shares of the company's stock were exchanged, compared to its average volume of 6,140,898. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.68. The business has a 50 day moving average price of $34.42 and a 200-day moving average price of $34.45. The stock has a market capitalization of $27.06 billion, a P/E ratio of 27.12, a PEG ratio of 2.61 and a beta of 0.64. PPL Corporation has a fifty-two week low of $29.11 and a fifty-two week high of $36.99.

PPL (NYSE:PPL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.07. PPL had a return on equity of 9.14% and a net margin of 11.49%. The business had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the prior year, the business earned $0.54 EPS. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts forecast that PPL Corporation will post 1.83 earnings per share for the current fiscal year.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th were issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Tuesday, June 10th. PPL's payout ratio is 80.74%.

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.