AMG National Trust Bank Sells 4,555 Shares of PPL Co. (NYSE:PPL)

AMG National Trust Bank trimmed its holdings in shares of PPL Co. (NYSE:PPL) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,615 shares of the utilities provider’s stock after selling 4,555 shares during the period. AMG National Trust Bank’s holdings in PPL were worth $3,486,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PPL. Kentucky Trust Co purchased a new stake in PPL during the fourth quarter valued at about $32,000. Ashton Thomas Securities LLC purchased a new stake in PPL during the third quarter valued at about $34,000. Rosenberg Matthew Hamilton boosted its position in PPL by 1,092.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock valued at $39,000 after buying an additional 1,114 shares during the period. Newton One Investments LLC purchased a new stake in PPL during the fourth quarter valued at about $49,000. Finally, Covestor Ltd boosted its holdings in shares of PPL by 139.2% during the third quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 880 shares during the period. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Price Performance

Shares of NYSE PPL opened at $33.90 on Friday. PPL Co. has a fifty-two week low of $25.93 and a fifty-two week high of $35.91. The company has a 50 day simple moving average of $33.46 and a two-hundred day simple moving average of $32.97. The company has a market capitalization of $25.03 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 2.77 and a beta of 0.76. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.71 and a current ratio of 0.86.

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

PPL Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $0.2725 per share. The ex-dividend date is Monday, March 10th. This represents a $1.09 annualized dividend and a dividend yield of 3.22%. This is an increase from PPL’s previous quarterly dividend of $0.26. PPL’s dividend payout ratio (DPR) is 90.08%.

Insider Activity at PPL

In related news, insider Christine M. Martin sold 1,146 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $34.78, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David J. Bonenberger sold 981 shares of PPL stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total transaction of $32,843.88. Following the completion of the sale, the chief operating officer now directly owns 45,414 shares of the company’s stock, valued at approximately $1,520,460.72. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,779 shares of company stock valued at $386,515 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of PPL in a report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 target price for the company. 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. Jefferies Financial Group lowered their price objective 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. Finally, Citigroup raised their price objective on shares of PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.