Exelon Corporation (EXC) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. increased its position in shares of Exelon Corporation (NYSE:EXC) by 26.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,312,323 shares of the energy giant’s stock after buying an additional 889,463 shares during the period. Principal Financial Group Inc.’s holdings in Exelon Corporation were worth $155,158,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in EXC. Norges Bank acquired a new stake in shares of Exelon Corporation during the fourth quarter valued at $295,370,000. Wells Fargo & Company MN boosted its position in shares of Exelon Corporation by 91.4% in the first quarter. Wells Fargo & Company MN now owns 7,854,768 shares of the energy giant’s stock worth $282,615,000 after buying an additional 3,749,880 shares during the last quarter. Energy Income Partners LLC purchased a new position in shares of Exelon Corporation during the fourth quarter worth about $79,667,000. Asset Management One Co. Ltd. boosted its position in shares of Exelon Corporation by 1,739.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,627,186 shares of the energy giant’s stock worth $57,776,000 after buying an additional 1,538,719 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Exelon Corporation by 107.2% in the first quarter. Canada Pension Plan Investment Board now owns 2,930,063 shares of the energy giant’s stock worth $105,424,000 after buying an additional 1,515,767 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.
Exelon Corporation (NYSE EXC) traded up 0.30% on Tuesday, hitting $36.95. The company’s stock had a trading volume of 597,384 shares. The firm has a 50 day moving average of $35.49 and a 200 day moving average of $35.52. The firm has a market cap of $34.22 billion, a price-to-earnings ratio of 17.59 and a beta of 0.26. Exelon Corporation has a 12 month low of $29.82 and a 12 month high of $37.70.
Exelon Corporation (NYSE:EXC) last issued its earnings results on Wednesday, May 3rd. The energy giant reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.69 billion. Exelon Corporation had a net margin of 6.10% and a return on equity of 9.00%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share. Equities research analysts forecast that Exelon Corporation will post $2.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Monday, May 15th were given a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Thursday, May 11th. Exelon Corporation’s dividend payout ratio (DPR) is presently 62.09%.
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Several research analysts have issued reports on EXC shares. ValuEngine lowered Exelon Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Credit Suisse Group reiterated a “buy” rating and issued a $42.00 price target on shares of Exelon Corporation in a research report on Tuesday, May 30th. BMO Capital Markets reissued a “hold” rating and set a $37.00 price objective on shares of Exelon Corporation in a research note on Thursday, May 4th. Barclays PLC reissued an “overweight” rating and set a $43.00 price objective (up previously from $40.00) on shares of Exelon Corporation in a research note on Sunday, April 23rd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $39.50 price objective on shares of Exelon Corporation in a research note on Thursday, April 20th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $38.96.
In other Exelon Corporation news, Director John W. Rogers, Jr. acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average cost of $33.57 per share, with a total value of $100,710.00. Following the completion of the acquisition, the director now directly owns 14,374 shares in the company, valued at approximately $482,535.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mayo A. Shattuck III sold 465,892 shares of Exelon Corporation stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $36.52, for a total transaction of $17,014,375.84. Following the transaction, the chairman now directly owns 567,649 shares in the company, valued at $20,730,541.48. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Exelon Corporation Company Profile
Exelon Corporation is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. The Company, through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), is engaged in the energy delivery businesses.
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