LSV Asset Management Lowers Position in Exelon Corp. (EXC)
LSV Asset Management lowered its stake in shares of Exelon Corp. (NYSE:EXC) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,932,615 shares of the energy giant’s stock after selling 72,025 shares during the period. Exelon Corp. accounts for 0.7% of LSV Asset Management’s holdings, making the stock its 29th largest position. LSV Asset Management owned approximately 1.08% of Exelon Corp. worth $361,149,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of EXC. Bank of Montreal Can acquired a new position in Exelon Corp. during the second quarter valued at approximately $91,853,000. Jennison Associates LLC raised its stake in shares of Exelon Corp. by 65.5% in the second quarter. Jennison Associates LLC now owns 4,059,122 shares of the energy giant’s stock worth $147,590,000 after buying an additional 1,605,976 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Exelon Corp. during the second quarter worth about $57,565,000. Renaissance Technologies LLC raised its stake in shares of Exelon Corp. by 66.3% in the first quarter. Renaissance Technologies LLC now owns 1,966,400 shares of the energy giant’s stock worth $70,515,000 after buying an additional 784,276 shares during the period. Finally, Virginia Retirement System purchased a new stake in shares of Exelon Corp. during the first quarter worth about $27,699,000. Hedge funds and other institutional investors own 74.90% of the company’s stock.
Shares of Exelon Corp. (NYSE:EXC) traded up 1.06% during mid-day trading on Thursday, hitting $35.22. 3,334,152 shares of the stock were exchanged. The firm has a market cap of $32.50 billion, a price-to-earnings ratio of 23.57 and a beta of 0.24. The stock has a 50-day moving average price of $34.52 and a 200 day moving average price of $34.98. Exelon Corp. has a 52-week low of $25.09 and a 52-week high of $37.70.
Exelon Corp. (NYSE:EXC) last issued its earnings results on Tuesday, August 9th. The energy giant reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.09. Exelon Corp. had a net margin of 4.58% and a return on equity of 8.52%. The company had revenue of $6.90 billion for the quarter, compared to analysts’ expectations of $7.30 billion. During the same period in the prior year, the business earned $0.59 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts expect that Exelon Corp. will post $2.57 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 15th were issued a dividend of $0.318 per share. This represents a $1.27 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Thursday, August 11th. Exelon Corp.’s payout ratio is 84.67%.
A number of equities research analysts have issued reports on EXC shares. Jefferies Group reissued a “buy” rating and issued a $40.00 price target on shares of Exelon Corp. in a report on Friday, August 12th. Deutsche Bank AG raised shares of Exelon Corp. from a “hold” rating to a “buy” rating and raised their price target for the stock from $36.00 to $39.00 in a report on Friday, July 22nd. Bank of America Corp. reaffirmed a “hold” rating and set a $37.00 target price on shares of Exelon Corp. in a research note on Thursday, August 11th. Zacks Investment Research raised shares of Exelon Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Finally, Morgan Stanley set a $38.00 target price on shares of Exelon Corp. and gave the company a “hold” rating in a research note on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $36.23.
In other Exelon Corp. news, CEO Kenneth W. Cornew sold 30,000 shares of the 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 transaction, the chief executive officer now directly owns 32,844 shares in the company, valued at approximately $1,197,820.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.80% of the company’s stock.
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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