Exelon Corporation (EXC) Position Raised by CIBC Asset Management Inc
CIBC Asset Management Inc raised its position in shares of Exelon Corporation (NYSE:EXC) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,343 shares of the energy giant’s stock after buying an additional 688 shares during the period. CIBC Asset Management Inc’s holdings in Exelon Corporation were worth $3,331,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Gradient Investments LLC boosted its position in Exelon Corporation by 0.7% in the first quarter. Gradient Investments LLC now owns 10,009 shares of the energy giant’s stock worth $360,000 after buying an additional 72 shares during the last quarter. Bank of Montreal Can boosted its position in Exelon Corporation by 27.7% in the first quarter. Bank of Montreal Can now owns 2,491,792 shares of the energy giant’s stock worth $89,654,000 after buying an additional 540,266 shares during the last quarter. Highland Capital Management LLC boosted its position in Exelon Corporation by 31.4% in the first quarter. Highland Capital Management LLC now owns 175,529 shares of the energy giant’s stock worth $6,316,000 after buying an additional 41,920 shares during the last quarter. Pennsylvania Trust Co boosted its position in Exelon Corporation by 0.8% in the first quarter. Pennsylvania Trust Co now owns 20,950 shares of the energy giant’s stock worth $754,000 after buying an additional 160 shares during the last quarter. Finally, First American Bank acquired a new position in Exelon Corporation during the first quarter worth about $2,822,000. Institutional investors own 74.90% of the company’s stock.
Exelon Corporation (NYSE EXC) opened at 38.17 on Friday. Exelon Corporation has a 52-week low of $29.82 and a 52-week high of $38.78. The company has a market capitalization of $35.35 billion, a price-to-earnings ratio of 20.01 and a beta of 0.27. The stock has a 50 day moving average price of $36.76 and a 200 day moving average price of $35.90.
Exelon Corporation (NYSE:EXC) last released its earnings results on Wednesday, August 2nd. The energy giant reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. The firm had revenue of $7.62 billion during the quarter, compared to analyst estimates of $7.88 billion. Exelon Corporation had a return on equity of 8.47% and a net margin of 5.41%. Exelon Corporation’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $0.65 earnings per share. On average, equities analysts expect that Exelon Corporation will post $2.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be issued a $0.3275 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.31 dividend on an annualized basis and a yield of 3.43%. Exelon Corporation’s dividend payout ratio (DPR) is presently 68.59%.
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A number of research firms recently issued reports on EXC. Barclays PLC restated an “overweight” rating and set a $44.00 price objective (up previously from $43.00) on shares of Exelon Corporation in a report on Thursday. BidaskClub upgraded Exelon Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Citigroup Inc. upgraded Exelon Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $43.00 in a report on Thursday, July 27th. Deutsche Bank AG restated a “buy” rating and set a $41.00 price objective on shares of Exelon Corporation in a report on Monday, July 17th. Finally, ValuEngine cut Exelon Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Exelon Corporation presently has a consensus rating of “Buy” and a consensus target price of $39.71.
In related news, EVP Jonathan W. Thayer sold 215,669 shares of Exelon Corporation stock in a transaction on Friday, July 28th. The stock was sold at an average price of $38.00, for a total value of $8,195,422.00. Following the completion of the transaction, the executive vice president now directly owns 237,181 shares in the company, valued at $9,012,878. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Denis P. O’brien sold 30,000 shares of Exelon Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $38.50, for a total value of $1,155,000.00. Following the completion of the transaction, the insider now owns 57,243 shares of the company’s stock, valued at $2,203,855.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 927,844 shares of company stock valued at $34,570,885. 0.70% of the stock is currently owned by company insiders.
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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