Monitoring PPL Corporation (PPL) after recent insider movements

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ZOM Stock

PPL Corporation’s recent filing unveils that its EVP and CFO Bergstein Joseph P Jr unloaded Company’s shares for reported $0.63 million on Aug 26. In the deal valued at $30.41 per share,20,645 shares were sold. As a result of this transaction, Bergstein Joseph P Jr now holds 31,469 shares worth roughly $ 0.84 million.

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Then, Sorgi Vincent sold 27,600 shares, generating $828,000 in total proceeds. Upon selling the shares at $30.00, the President and CEO now owns 111,462 shares.

Before that, Sorgi Vincent sold 27,553 shares. PPL Corporation shares valued at $799,037 were divested by the President and CEO at a price of $29.00 per share. As a result of the transaction, Sorgi Vincent now holds 111,462 shares, worth roughly $2.98 million.

Seaport Research Partners upgraded its PPL Corporation [PPL] rating to a Buy from a a Neutral in a research note published on Monday. PT values the company’s stock at a premium of 6.04 to its Monday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in mid August from “a Neutral” to “a Buy”. Evercore ISI also remained covering PPL and has increased its forecast on July 07, 2022 with a “an Outperform” recommendation from previously “an In-line” rating. Credit Suisse started covering the stock on April 26, 2022. It rated PPL as “an Outperform”.

Price Performance Review of PPL

On Monday, PPL Corporation [NYSE:PPL] saw its stock fall -0.81% to $26.78. On the same session, the stock had its day’s lowest price of $26.47, but rose to a high of $27.20. Over the last five days, the stock has gained 1.09%. PPL Corporation shares have fallen nearly -10.91% since the year began. Nevertheless, the stocks have fallen -6.75% over the past one year. While a 52-week high of $30.99 was reached on 08/17/22, a 52-week low of $23.47 was recorded on 10/13/22. SMA at 50 days reached $27.10, while 200 days put it at $28.04. A total of 5.08 million shares were traded, compared to the trading of 0.48 million shares in the previous session.

Levels Of Support And Resistance For PPL Stock

The 24-hour chart illustrates a support level at 26.43, which if violated will result in even more drops to 26.09. On the upside, there is a resistance level at 27.16. A further resistance level may holdings at 27.55. The Relative Strength Index (RSI) on the 14-day chart is 54.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.71, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 17.39%. Stochastics %K at 89.13% indicates the stock is a selling.

How much short interest is there in PPL Corporation?

A steep rise in short interest was recorded in PPL Corporation stocks on Jul 14, 2022, growing by 1.42 million shares to a total of 11.28 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 9.86 million shares. There was a rise of 12.59%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.74% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.02.

PPL Corporation [PPL] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 86,764,996 shares, or roughly 11.79% of the outstanding PPL shares. In other words, the investor’s shares have risen by 2,236,966 from its previous 13-F filing of 84528030.0. Additionally, BlackRock Fund Advisors increased 2.84% of its stake after which the total value it holdings stand at $1,151,380,979, while SSgA Funds Management, Inc. added 2.75% of its stake to hold $1.11 billion in the firm. Over the last quarter, Hotchkis & Wiley Capital Manageme sold -1,235,425 shares of PPL Corporation, while Geode Capital Management LLC sold -271,296 shares. At present, Invesco Capital Management LLC is holding 12,589,752 shares valued at $319.15 million. Fidelity Management & Research Co owned 11,523,922 shares of the company at the time of its most recent 13F filing, worth $292.13 million.

According to FactSet, PPL Corporation’s share price will average $28.96 in the next year, based on opinions of analysts polled by the firm. This is up nearly 9.26 percent from its previous closing price of $27.00. Analysts expect PPL Corporation stock to reach the higher price of $32.00, while the lowest price estimate is $24.00. However, 13 analysts have rated PPL stock as a Buy in their predictions for 2022.


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