Trading Report: Today: Assetmark Inc. Sold shares of PPL Corp. (PPL)

Today: Assetmark Inc. Sold shares of PPL Corp. (PPL)

Assetmark Inc. cut its stake in PPL Corp. (NYSE:PPL) by 97.6% during the third quarter, Holdings Channel reports. The fund owned 14,882 shares of the company’s stock after selling 605,670 shares during the period. Assetmark Inc.’s holdings in PPL Corp. were worth $514,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PPL. Global X Management Co. LLC raised its position in PPL Corp. by 11.9% in the third quarter. Global X Management Co. LLC now owns 188,217 shares of the company’s stock worth $6,507,000 after buying an additional 20,062 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in PPL Corp. by 0.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 7,932 shares of the company’s stock worth $274,000 after buying an additional 38 shares during the period. Sei Investments Co. raised its position in PPL Corp. by 50.7% in the third quarter. Sei Investments Co. now owns 132,747 shares of the company’s stock worth $4,589,000 after buying an additional 44,655 shares during the period. US Bancorp DE raised its position in PPL Corp. by 38.2% in the third quarter. US Bancorp DE now owns 184,056 shares of the company’s stock worth $6,363,000 after buying an additional 50,885 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in PPL Corp. by 2.9% in the third quarter. UBS Asset Management Americas Inc. now owns 2,243,228 shares of the company’s stock worth $77,549,000 after buying an additional 62,506 shares during the period. Institutional investors own 69.01% of the company’s stock.

PPL Corp. (NYSE:PPL) traded up 2.43% during trading on Monday, hitting $34.13. 1,372,836 shares of the company’s stock traded hands. PPL Corp. has a 12-month low of $32.08 and a 12-month high of $39.92. The stock has a market cap of $23.20 billion, a P/E ratio of 12.68 and a beta of 0.41. The firm’s 50-day moving average price is $33.36 and its 200 day moving average price is $35.91.

PPL Corp. (NYSE:PPL) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.05. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $2.04 billion. PPL Corp. had a net margin of 24.59% and a return on equity of 15.66%. PPL Corp.’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. Analysts anticipate that PPL Corp. will post $2.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Wednesday, December 7th. PPL Corp.’s dividend payout ratio is currently 56.30%.

A number of research analysts have weighed in on PPL shares. Zacks Investment Research raised shares of PPL Corp. from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Friday. Argus reduced their price target on shares of PPL Corp. from $45.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, September 9th. Jefferies Group reaffirmed a “hold” rating and set a $37.00 price target on shares of PPL Corp. in a research report on Tuesday, October 25th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $44.00 price target on shares of PPL Corp. in a research report on Friday, August 5th. Finally, Bank of America Corp. lowered shares of PPL Corp. from a “buy” rating to a “neutral” rating and set a $32.00 price target on the stock. in a research report on Tuesday, November 22nd. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. PPL Corp. presently has a consensus rating of “Hold” and a consensus price target of $37.71.

About PPL Corp.

PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. It operates through three segments: U.K.

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