Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. PPL Corporation shares valued at $627,814 were sold by Bergstein Joseph P Jr on Aug 26. At $30.41 per share, Bergstein Joseph P Jr sold 20,645 shares. The insider’s holdings dropped to 31,469 shares worth approximately $0.89 million following the completion of this transaction.
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Also, Sorgi Vincent sold 27,600 shares, netting a total of over 828,000 in proceeds. Following the sale of shares at $30.00 each, the insider now holds 111,462 shares.
Before that, Sorgi Vincent had sold 27,553 shares from its account. In a trade valued at $799,037, the President and CEO traded PPL Corporation shares for $29.00 each. Upon closing the transaction, the insider’s holdings decreased to 27,553 shares, worth approximately $3.16 million.
As published in a research note from BofA Securities on August 15, 2022, PPL Corporation [PPL] has been rated up from a Neutral to a Buy and the price target has been revised to $33 from $29. This represents a 14.0% premium over Thursday’s closing price. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in early July. As of April 26, 2022, Credit Suisse has initiated its “an Outperform” rating for PPL. Earlier on April 11, 2022, Credit Suisse upgraded its rating. Their new recommendation was “an Outperform” for PPL stock which previously was a “a Neutral”.
Analyzing PPL’s Price Performance
On Thursday, PPL Corporation [NYSE: PPL] plunged -0.18% to $28.38. The stock’s lowest price that day was $28.235, but it reached a high of $28.57 in the same session. During the last five days, there has been a drop of approximately -1.73%. Over the course of the year, PPL Corporation shares have dropped approximately -5.59%. Shares of the company reached a 52-week high of $30.99 on 08/17/22 and a 52-week low of $24.98 on 06/17/22. A 50-day SMA is recorded $29.06, while a 200-day SMA reached $28.64. Nevertheless, trading volume fell to 3.72 million shares from 3.41 million shares the previous day.
Support And Resistance Levels for PPL Corporation (PPL)
According to the 24-hour chart, there is a support level at 28.22, which, if violated, would cause prices to drop to 28.06. In the upper region, resistance lies at 28.55. The next price resistance is at 28.73. RSI (Relative Strength Index) is 39.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.64, which suggests the price will decrease in the coming days. Percent R is at 92.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is PPL Corporation subject to short interest?
Stocks of PPL Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.42 million shares to 11.28 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 9.86 million shares. A jump of 12.59% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.02 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.02.
Which companies own the most shares of PPL Corporation (PPL)?
According to The Vanguard Group, Inc. filings, the company currently owns 86,764,996 shares, which is about 11.79% of the total PPL shares outstanding. The investor’s shares have appreciated by 2,236,966 from its previous 13-F filing of 84528030.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $1,320,795,221. SSgA Funds Management, Inc. acquire a 2.75% interest valued at $1.28 billion while Hotchkis & Wiley Capital Manageme sold a -1,235,425 stake. A total of -271,296 shares of PPL Corporation were sold by Geode Capital Management LLC during the quarter, and 1,480,252 were bought by Invesco Capital Management LLC. In its current portfolio, Fidelity Management & Research Co holds 11,523,922 shares valued at $335.12 million.
In terms of PPL Corporation share price expectations, FactSet research, analysts set an average price target of $31.75 in the next 12 months, up nearly 12.56% from the previous closing price of $28.43. Analysts anticipate PPL Corporation stock to reach $34.00 by 2022, with the lowest price target being $29.00. In spite of this, 15 analysts ranked PPL Corporation stock as an Overweight at the end of 2022.