Cigna Investments Inc. New cut its stake in shares of PPL Corporation (NYSE:PPL) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,145 shares of the utilities provider’s stock after selling 1,694 shares during the period. Cigna Investments Inc. New’s holdings in PPL Corporation were worth $1,021,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Iowa State Bank boosted its stake in shares of PPL Corporation by 3.3% in the first quarter. Iowa State Bank now owns 12,929 shares of the utilities provider’s stock valued at $483,000 after buying an additional 415 shares during the last quarter. Tompkins Financial Corp boosted its stake in shares of PPL Corporation by 114.3% in the first quarter. Tompkins Financial Corp now owns 3,000 shares of the utilities provider’s stock valued at $114,000 after buying an additional 1,600 shares during the last quarter. Valley National Advisers Inc. boosted its stake in shares of PPL Corporation by 3.2% in the first quarter. Valley National Advisers Inc. now owns 57,783 shares of the utilities provider’s stock valued at $2,161,000 after buying an additional 1,795 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of PPL Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 13,543 shares of the utilities provider’s stock valued at $506,000 after buying an additional 429 shares during the last quarter. Finally, Bank of Nova Scotia boosted its stake in shares of PPL Corporation by 924.3% in the first quarter. Bank of Nova Scotia now owns 156,210 shares of the utilities provider’s stock valued at $5,840,000 after buying an additional 140,960 shares during the last quarter. 71.05% of the stock is owned by institutional investors and hedge funds.

Shares of PPL Corporation (PPL) opened at 38.75 on Friday. PPL Corporation has a 12 month low of $32.08 and a 12 month high of $40.20. The company has a market cap of $26.58 billion, a PE ratio of 16.22 and a beta of 0.49. The firm’s 50-day moving average price is $38.38 and its 200-day moving average price is $37.71.

PPL Corporation (NYSE:PPL) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the company posted $0.56 EPS. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. Equities analysts predict that PPL Corporation will post $2.16 EPS for the current fiscal year.

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Several equities research analysts recently commented on PPL shares. Barclays PLC reissued an “equal weight” rating and issued a $41.00 price target (up previously from $38.00) on shares of PPL Corporation in a research note on Sunday, April 23rd. BidaskClub cut PPL Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Wednesday, July 12th. Jefferies Group LLC raised PPL Corporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $39.50 to $42.00 in a research report on Wednesday, July 19th. Finally, Goldman Sachs Group, Inc. (The) raised PPL Corporation from a “sell” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $38.00 in a research report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. PPL Corporation has a consensus rating of “Hold” and an average target price of $38.72.

In related news, insider Gregory N. Dudkin sold 8,228 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $39.55, for a total value of $325,417.40. Following the completion of the sale, the insider now directly owns 39,693 shares in the company, valued at approximately $1,569,858.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vincent Sorgi sold 5,600 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $39.00, for a total value of $218,400.00. Following the completion of the sale, the insider now owns 97 shares of the company’s stock, valued at $3,783. The disclosure for this sale can be found here. Insiders sold a total of 19,740 shares of company stock valued at $773,067 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

PPL Corporation Company Profile

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. PPL operates through U.K.

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Institutional Ownership by Quarter for PPL Corporation (NYSE:PPL)

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