NewSquare Capital LLC Boosts Stake in Exelon Corp. (EXC)
NewSquare Capital LLC increased its stake in Exelon Corp. (NYSE:EXC) by 16.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,161 shares of the energy giant’s stock after buying an additional 3,157 shares during the period. NewSquare Capital LLC’s holdings in Exelon Corp. were worth $806,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in EXC. CT Financial Advisors LLC increased its stake in Exelon Corp. by 0.3% in the second quarter. CT Financial Advisors LLC now owns 4,096 shares of the energy giant’s stock valued at $149,000 after buying an additional 11 shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in Exelon Corp. by 0.7% in the first quarter. Peapack Gladstone Financial Corp now owns 8,261 shares of the energy giant’s stock valued at $296,000 after buying an additional 55 shares in the last quarter. FirstMerit Bank N A Trustee increased its stake in Exelon Corp. by 0.6% in the second quarter. FirstMerit Bank N A Trustee now owns 14,912 shares of the energy giant’s stock valued at $542,000 after buying an additional 88 shares in the last quarter. DAVENPORT & Co LLC increased its stake in Exelon Corp. by 1.2% in the second quarter. DAVENPORT & Co LLC now owns 7,735 shares of the energy giant’s stock valued at $281,000 after buying an additional 93 shares in the last quarter. Finally, Cornerstone Investment Partners LLC increased its stake in Exelon Corp. by 1.0% in the second quarter. Cornerstone Investment Partners LLC now owns 9,865 shares of the energy giant’s stock valued at $359,000 after buying an additional 100 shares in the last quarter. Institutional investors own 74.90% of the company’s stock.
Exelon Corp. (NYSE:EXC) traded up 2.77% during midday trading on Wednesday, hitting $34.85. 5,209,309 shares of the stock were exchanged. The firm’s 50 day moving average price is $34.52 and its 200 day moving average price is $34.98. The company has a market cap of $32.16 billion, a PE ratio of 23.33 and a beta of 0.24. Exelon Corp. has a 12 month low of $25.09 and a 12 month high of $37.70.
Exelon Corp. (NYSE:EXC) last released its quarterly earnings results on Tuesday, August 9th. The energy giant reported $0.65 EPS for the quarter, topping 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 firm earned $6.90 billion during the quarter, compared to analysts’ expectations of $7.30 billion. During the same period in the previous year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Exelon Corp. will post $2.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 15th were paid a dividend of $0.318 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 3.65%. Exelon Corp.’s dividend payout ratio is presently 84.67%.
Several analysts have weighed in on EXC shares. Bank of America Corp. reissued a “hold” rating and issued a $35.00 price target on shares of Exelon Corp. in a research note on Tuesday, May 24th. Zacks Investment Research downgraded shares of Exelon Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Citigroup Inc. boosted their price target on shares of Exelon Corp. from $27.00 to $29.00 and gave the stock a “sell” rating in a research note on Wednesday, July 20th. Deutsche Bank AG raised shares of Exelon Corp. from a “hold” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $39.00 in a research note on Friday, July 22nd. Finally, Morgan Stanley set a $38.00 price target on shares of Exelon Corp. and gave the stock a “hold” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.23.
In related news, CEO Kenneth W. Cornew sold 30,000 shares of Exelon Corp. stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $36.47, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.80% of the company’s stock.
About Exelon Corp.
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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