BlackRock Inc. Has $2.66 Billion Holdings in Exelon Corporation (EXC)
BlackRock Inc. lessened its holdings in Exelon Corporation (NYSE:EXC) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,675,428 shares of the energy giant’s stock after selling 608,558 shares during the quarter. BlackRock Inc. owned 7.67% of Exelon Corporation worth $2,657,473,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Heartland Advisors Inc. increased its holdings in Exelon Corporation by 3.9% in the 2nd quarter. Heartland Advisors Inc. now owns 373,842 shares of the energy giant’s stock valued at $13,484,000 after buying an additional 13,982 shares during the period. Calamos Advisors LLC increased its holdings in Exelon Corporation by 667.0% in the 2nd quarter. Calamos Advisors LLC now owns 714,316 shares of the energy giant’s stock valued at $25,765,000 after buying an additional 621,188 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Exelon Corporation by 4.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,402,806 shares of the energy giant’s stock valued at $86,669,000 after buying an additional 98,244 shares during the period. Utah Retirement Systems increased its holdings in Exelon Corporation by 4.4% in the 2nd quarter. Utah Retirement Systems now owns 169,665 shares of the energy giant’s stock valued at $6,120,000 after buying an additional 7,200 shares during the period. Finally, Baillie Gifford & Co. increased its holdings in Exelon Corporation by 8.0% in the 2nd quarter. Baillie Gifford & Co. now owns 404,952 shares of the energy giant’s stock valued at $14,606,000 after buying an additional 29,825 shares during the period. 76.79% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Denis P. O’brien sold 30,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $38.50, for a total value of $1,155,000.00. Following the transaction, the insider now owns 57,243 shares in the company, valued at $2,203,855.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paymon Aliabadi sold 13,333 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $37.05, for a total value of $493,987.65. Following the completion of the transaction, the executive vice president now owns 53,102 shares in the company, valued at approximately $1,967,429.10. The disclosure for this sale can be found here. Insiders sold 475,285 shares of company stock worth $18,067,297 in the last 90 days. 0.70% of the stock is owned by company insiders.
Several brokerages have issued reports on EXC. Barclays PLC reissued an “overweight” rating and issued a $44.00 price target (up previously from $43.00) on shares of Exelon Corporation in a report on Wednesday, August 9th. KeyCorp reissued a “buy” rating and issued a $41.00 price target on shares of Exelon Corporation in a report on Friday, September 1st. Citigroup Inc. raised shares of Exelon Corporation from a “neutral” rating to a “buy” rating and boosted their price target for the company from $36.00 to $43.00 in a report on Thursday, July 27th. Morgan Stanley boosted their price target on shares of Exelon Corporation from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Finally, BidaskClub lowered shares of Exelon Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $40.17.
Shares of Exelon Corporation (NYSE EXC) traded up 0.463% during midday trading on Thursday, hitting $37.975. 1,328,092 shares of the stock traded hands. Exelon Corporation has a 1-year low of $29.82 and a 1-year high of $38.78. The company has a market capitalization of $36.46 billion, a P/E ratio of 20.082 and a beta of 0.28. The stock has a 50 day moving average of $38.00 and a 200 day moving average of $36.41.
Exelon Corporation (NYSE:EXC) last issued its quarterly earnings results on Wednesday, August 2nd. The energy giant reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. Exelon Corporation had a return on equity of 8.47% and a net margin of 5.41%. The company had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the business earned $0.65 earnings per share. Exelon Corporation’s revenue was up 10.3% on a year-over-year basis. Equities research analysts predict that Exelon Corporation will post $2.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Tuesday, August 15th were given a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Friday, August 11th. Exelon Corporation’s payout ratio is currently 68.59%.
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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