Exelon Corporation (NYSE:EXC) Stake Lowered by NGAM Advisors L.P.
NGAM Advisors L.P. lowered its position in Exelon Corporation (NYSE:EXC) by 12.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,666 shares of the energy giant’s stock after selling 12,182 shares during the period. NGAM Advisors L.P.’s holdings in Exelon Corporation were worth $3,090,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of Exelon Corporation by 3,711.9% in the first quarter. BlackRock Inc. now owns 74,283,986 shares of the energy giant’s stock worth $2,672,738,000 after buying an additional 72,335,239 shares in the last quarter. BKD Wealth Advisors LLC raised its position in shares of Exelon Corporation by 12.6% in the first quarter. BKD Wealth Advisors LLC now owns 9,845 shares of the energy giant’s stock worth $354,000 after buying an additional 1,105 shares in the last quarter. Tompkins Financial Corp raised its position in shares of Exelon Corporation by 4.4% in the first quarter. Tompkins Financial Corp now owns 98,829 shares of the energy giant’s stock worth $3,544,000 after buying an additional 4,164 shares in the last quarter. IFP Advisors Inc raised its position in shares of Exelon Corporation by 6.0% in the first quarter. IFP Advisors Inc now owns 45,861 shares of the energy giant’s stock worth $1,650,000 after buying an additional 2,580 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Exelon Corporation by 6.5% in the first quarter. Victory Capital Management Inc. now owns 186,362 shares of the energy giant’s stock worth $6,705,000 after buying an additional 11,333 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors.
Shares of Exelon Corporation (NYSE EXC) opened at 37.74 on Friday. Exelon Corporation has a one year low of $29.82 and a one year high of $38.78. The firm has a market capitalization of $36.23 billion, a P/E ratio of 19.96 and a beta of 0.27. The company has a 50-day moving average price of $37.03 and a 200 day moving average price of $36.01.
Exelon Corporation (NYSE:EXC) last released its quarterly earnings data on Wednesday, August 2nd. The energy giant reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Exelon Corporation had a net margin of 5.41% and a return on equity of 8.47%. The business had revenue of $7.62 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the previous year, the business earned $0.65 EPS. Exelon Corporation’s quarterly revenue was up 10.3% compared to the same quarter last year. Analysts expect that Exelon Corporation will post $2.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be paid a $0.3275 dividend. This represents a $1.31 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Friday, August 11th. Exelon Corporation’s payout ratio is presently 68.59%.
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EXC has been the topic of a number of recent analyst reports. Barclays PLC reissued an “overweight” rating and set a $43.00 price target (up previously from $40.00) on shares of Exelon Corporation in a research note on Sunday, April 23rd. Citigroup Inc. raised Exelon Corporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $36.00 to $43.00 in a research note on Thursday, July 27th. Wolfe Research raised Exelon Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. BMO Capital Markets reissued a “hold” rating and set a $37.00 price target on shares of Exelon Corporation in a research note on Thursday, May 4th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $41.00 price target on shares of Exelon Corporation in a research note on Monday, July 17th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $39.71.
In related news, Chairman Mayo A. Shattuck III sold 465,892 shares of Exelon Corporation stock in a transaction on Monday, June 12th. The shares were sold at an average price of $36.52, for a total value of $17,014,375.84. Following the completion of the sale, the chairman now owns 567,649 shares of the company’s stock, valued at approximately $20,730,541.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 transaction of $1,155,000.00. Following the completion of the sale, the insider now directly owns 57,243 shares of the company’s stock, valued at approximately $2,203,855.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 927,844 shares of company stock valued at $34,570,885. 0.70% of the stock is owned by company insiders.
About Exelon Corporation
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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