Credit Suisse AG Has $15.10 Million Stock Holdings in PPL Co. (NYSE:PPL)

Posted by Defense World Staff on Jun 9th, 2023

Credit Suisse AG increased its holdings in PPL Co. (NYSE:PPL – Get Rating) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 516,630 shares of the utilities provider’s stock after purchasing an additional 19,978 shares during the period. Credit Suisse AG owned approximately 0.07% of PPL worth $15,096,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can grew its stake in shares of PPL by 3.7% during the first quarter. Great West Life Assurance Co. Can now owns 350,807 shares of the utilities provider’s stock valued at $10,501,000 after purchasing an additional 12,428 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of PPL by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,292,612 shares of the utilities provider’s stock valued at $65,480,000 after purchasing an additional 50,658 shares during the last quarter. Sei Investments Co. grew its stake in shares of PPL by 9.4% during the first quarter. Sei Investments Co. now owns 341,996 shares of the utilities provider’s stock valued at $9,779,000 after purchasing an additional 29,496 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of PPL by 1.2% during the first quarter. Allianz Asset Management GmbH now owns 409,552 shares of the utilities provider’s stock valued at $11,697,000 after purchasing an additional 4,998 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of PPL by 7.7% during the first quarter. Mather Group LLC. now owns 10,764 shares of the utilities provider’s stock valued at $307,000 after purchasing an additional 766 shares during the last quarter. 70.02% of the stock is owned by institutional investors.

PPL Trading Up 0.3 %

PPL opened at $26.84 on Friday. The firm’s fifty day moving average is $27.84 and its two-hundred day moving average is $28.37. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.05 and a current ratio of 1.23. The firm has a market cap of $19.78 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. PPL Co. has a twelve month low of $23.47 and a twelve month high of $31.74.

PPL (NYSE:PPL – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. PPL had a net margin of 9.00% and a return on equity of 7.81%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 35.5% on a year-over-year basis. Equities research analysts anticipate that PPL Co. will post 1.59 EPS for the current year.

PPL Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 9th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.58%. PPL’s payout ratio is 91.43%.

Insider Buying and Selling

In related news, insider John R. Crockett III sold 5,500 shares of the firm’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $28.00, for a total transaction of $154,000.00. Following the sale, the insider now directly owns 9,161 shares in the company, valued at $256,508. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PPL shares. StockNews.com started coverage on shares of PPL in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Morgan Stanley raised their price objective on shares of PPL from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, April 20th. TheStreet raised shares of PPL from a “c+” rating to a “b” rating in a research note on Thursday, May 4th. Finally, Mizuho reduced their price objective on shares of PPL from $32.00 to $28.00 in a research note on Monday, March 20th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

PPL Company Profile

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PPL Corp. engages in the generation, transmission and distribution of electricity. It operates through the two reportable segments: Kentucky Regulated & Pennsylvania Regulated. The Kentucky Regulated segment consists of LKE’s regulated electricity generation, transmission and distribution operations of Louisville Gas and Electric Company and Kentucky Utilities Company as well as regulated distribution and sale of natural gas of Louisville Gas and Electric Company.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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