Exelon Corporation (NYSE:EXC) Stake Reduced by Convergence Investment Partners LLC
Convergence Investment Partners LLC lowered its position in Exelon Corporation (NYSE:EXC) by 5.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,439 shares of the energy giant’s stock after selling 5,234 shares during the period. Convergence Investment Partners LLC’s holdings in Exelon Corporation were worth $3,515,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Live Your Vision LLC boosted its stake in shares of Exelon Corporation by 0.9% in the first quarter. Live Your Vision LLC now owns 2,951 shares of the energy giant’s stock worth $106,000 after buying an additional 27 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Exelon Corporation by 703.5% in the first quarter. Assetmark Inc. now owns 2,981 shares of the energy giant’s stock worth $107,000 after buying an additional 2,610 shares during the last quarter. V Wealth Management LLC bought a new stake in shares of Exelon Corporation during the second quarter worth about $111,000. Hudock Capital Group LLC boosted its stake in shares of Exelon Corporation by 8.1% in the first quarter. Hudock Capital Group LLC now owns 3,193 shares of the energy giant’s stock worth $114,000 after buying an additional 240 shares during the last quarter. Finally, Jacobi Capital Management LLC boosted its stake in shares of Exelon Corporation by 12.3% in the first quarter. Jacobi Capital Management LLC now owns 3,388 shares of the energy giant’s stock worth $122,000 after buying an additional 372 shares during the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.
Exelon Corporation (EXC) opened at 37.50 on Friday. Exelon Corporation has a 52 week low of $29.82 and a 52 week high of $38.78. The firm has a market capitalization of $36.00 billion, a price-to-earnings ratio of 19.83 and a beta of 0.27. The company has a 50 day moving average price of $37.05 and a 200-day moving average price of $36.03.
Exelon Corporation (NYSE:EXC) last released its earnings results on Wednesday, August 2nd. The energy giant reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $7.88 billion. Exelon Corporation had a return on equity of 8.47% and a net margin of 5.41%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. Equities analysts predict 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. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.3275 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 3.49%. Exelon Corporation’s payout ratio is 68.59%.
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A number of equities research analysts have issued reports on EXC shares. BidaskClub raised Exelon Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Citigroup Inc. raised Exelon Corporation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $43.00 in a research report on Thursday, July 27th. Deutsche Bank AG reaffirmed a “buy” rating and set a $41.00 target price on shares of Exelon Corporation in a research report on Monday, July 17th. Credit Suisse Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Exelon Corporation in a research report on Tuesday, May 30th. Finally, UBS AG raised Exelon Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $36.00 to $37.50 in a research report on Monday, May 15th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $39.92.
In other news, Chairman Mayo A. Shattuck III sold 465,892 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $36.52, for a total transaction of $17,014,375.84. Following the completion of the sale, the chairman now directly owns 567,649 shares in the company, valued at approximately $20,730,541.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Denis P. O’brien sold 30,000 shares of the company’s 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 sale, 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 have sold 927,844 shares of company stock valued at $34,570,885. Corporate 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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