Mycio Wealth Partners LLC raised its holdings in PPL Corp (NYSE:PPL) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 265,311 shares of the utilities provider’s stock after acquiring an additional 2,556 shares during the period. PPL comprises about 0.7% of Mycio Wealth Partners LLC’s investment portfolio, making the stock its 21st largest holding. Mycio Wealth Partners LLC’s holdings in PPL were worth $7,516,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. FMR LLC boosted its position in PPL by 89.2% during the second quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock valued at $1,349,747,000 after purchasing an additional 22,285,268 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of PPL by 58.2% during the third quarter. Bank of New York Mellon Corp now owns 17,289,874 shares of the utilities provider’s stock worth $505,902,000 after purchasing an additional 6,361,091 shares during the period. Janus Henderson Group PLC increased its stake in shares of PPL by 106.1% during the third quarter. Janus Henderson Group PLC now owns 5,081,144 shares of the utilities provider’s stock worth $148,655,000 after purchasing an additional 2,615,544 shares during the period. Morgan Stanley increased its stake in shares of PPL by 96.7% during the third quarter. Morgan Stanley now owns 4,130,706 shares of the utilities provider’s stock worth $120,864,000 after purchasing an additional 2,030,363 shares during the period. Finally, United Services Automobile Association increased its stake in shares of PPL by 107.9% during the second quarter. United Services Automobile Association now owns 2,083,493 shares of the utilities provider’s stock worth $59,484,000 after purchasing an additional 1,081,408 shares during the period. 76.08% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on PPL. SunTrust Banks reiterated a “buy” rating and set a $35.00 target price on shares of PPL in a research note on Wednesday. Evercore ISI lowered PPL from an “outperform” rating to an “in-line” rating in a research note on Thursday, February 7th. Bank of America downgraded PPL from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $29.00 to $28.00 in a report on Monday, January 14th. Zacks Investment Research raised PPL from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Finally, Desjardins reissued an “average” rating and set a $52.00 price objective on shares of PPL in a report on Monday, January 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.33.
In related news, Chairman Paul W. Thompson sold 4,573 shares of the business’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $28.25, for a total value of $129,187.25. Following the completion of the sale, the chairman now directly owns 7,419 shares of the company’s stock, valued at approximately $209,586.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joanne H. Raphael sold 22,410 shares of the business’s stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $31.00, for a total value of $694,710.00. Following the completion of the sale, the senior vice president now directly owns 39,209 shares of the company’s stock, valued at $1,215,479. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,042 shares of company stock valued at $1,635,805. Corporate insiders own 0.38% of the company’s stock.
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PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
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