Wagner Bowman Management Corp Reduces Stake in Exelon Corp. (EXC)
Wagner Bowman Management Corp decreased its position in shares of Exelon Corp. (NYSE:EXC) by 14.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,511 shares of the energy giant’s stock after selling 2,191 shares during the period. Wagner Bowman Management Corp’s holdings in Exelon Corp. were worth $491,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. First Manhattan Co. raised its stake in shares of Exelon Corp. by 5.4% in the second quarter. First Manhattan Co. now owns 2,853 shares of the energy giant’s stock worth $103,000 after buying an additional 147 shares during the last quarter. CT Financial Advisors LLC boosted its position in shares of Exelon Corp. by 0.3% in the second quarter. CT Financial Advisors LLC now owns 4,096 shares of the energy giant’s stock worth $149,000 after buying an additional 11 shares during the period. JNBA Financial Advisors boosted its position in shares of Exelon Corp. by 22.2% in the second quarter. JNBA Financial Advisors now owns 4,408 shares of the energy giant’s stock worth $160,000 after buying an additional 800 shares during the period. Duff & Phelps Investment Management Co. acquired a new position in shares of Exelon Corp. during the first quarter worth about $215,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Exelon Corp. during the first quarter worth about $227,000. 74.91% of the stock is currently owned by hedge funds and other institutional investors.
Exelon Corp. (NYSE:EXC) traded down 0.73% during trading on Tuesday, hitting $33.91. 6,034,775 shares of the company’s stock were exchanged. Exelon Corp. has a 12-month low of $25.09 and a 12-month high of $37.70. The firm has a market cap of $31.29 billion, a price-to-earnings ratio of 22.70 and a beta of 0.24. The company’s 50-day moving average price is $34.57 and its 200 day moving average price is $34.98.
Exelon Corp. (NYSE:EXC) last released its quarterly earnings results on Tuesday, August 9th. The energy giant reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Exelon Corp. had a net margin of 4.58% and a return on equity of 8.52%. The business had revenue of $6.90 billion for the quarter, compared to analysts’ expectations of $7.30 billion. During the same period last year, the business earned $0.59 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities analysts forecast that Exelon Corp. will post $2.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 15th were given a $0.318 dividend. This represents a $1.27 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, August 11th. Exelon Corp.’s payout ratio is currently 84.67%.
A number of research analysts recently issued reports on EXC shares. Bank of America Corp. reissued a “hold” rating and set a $35.00 price target on shares of Exelon Corp. in a research report on Tuesday, May 24th. Zacks Investment Research cut shares of Exelon Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Citigroup Inc. lifted their price target on shares of Exelon Corp. from $27.00 to $29.00 and gave the company a “sell” rating in a research report on Wednesday, July 20th. Deutsche Bank AG raised shares of Exelon Corp. from a “hold” rating to a “buy” rating and lifted their price target for the company from $36.00 to $39.00 in a research report on Friday, July 22nd. Finally, Morgan Stanley set a $38.00 price target on shares of Exelon Corp. and gave the company a “hold” rating in a research report on Thursday, August 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $36.23.
In related news, CEO Kenneth W. Cornew sold 30,000 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $36.47, for a total value of $1,094,100.00. Following the completion of the transaction, the chief executive officer now directly owns 32,844 shares of the company’s stock, valued at approximately $1,197,820.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.80% of the stock is currently owned by corporate insiders.
Exelon Corp. Company Profile
Exelon Corporation is a utility services holding company. The Company operates through nine segments consisting of Exelon Generation Company, LLC’s (Generation’s) six power marketing segments, including Mid-Atlantic, Midwest, New England, New York, ERCOT and other regions; Commonwealth Edison Company (ComEd); PECO Energy Company (PECO), and Baltimore Gas and Electric Company (BGE).
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