Exelon Corporation $EXC Stock: Sumitomo Mitsui Trust Group Inc. Lowers Position

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Exelon Corporation (NASDAQ:EXC) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,344,113 shares of the company’s stock after selling 81,328 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Exelon were worth $94,702,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Exelon in the 2nd quarter worth $5,583,709,000. Lazard Asset Management LLC lifted its position in shares of Exelon by 6.4% in the first quarter. Lazard Asset Management LLC now owns 24,620,304 shares of the company’s stock valued at $1,206,887,000 after acquiring an additional 1,490,251 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Exelon in the second quarter valued at about $922,917,000. Legal & General Group Plc purchased a new position in shares of Exelon in the second quarter valued at about $602,760,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Exelon in the second quarter worth about $580,842,000. Institutional investors own 80.92% of the company’s stock.

Exelon Stock Up 0.6%

Shares of EXC stock opened at $46.45 on Tuesday. The stock has a market cap of $47.95 billion, a P/E ratio of 18.07, a PEG ratio of 2.45 and a beta of 0.30. Exelon Corporation has a 52 week low of $39.73 and a 52 week high of $50.65. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 1.71. The company’s fifty day simple moving average is $42.91 and its two-hundred day simple moving average is $45.59.

Exelon (NASDAQ:EXC) last released its quarterly earnings data on Friday, October 30th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.79 by $0.08. The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $6.76 billion. Exelon had a net margin of 10.99% and a return on equity of 9.81%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. Analysts predict that Exelon Corporation will post 2.86 EPS for the current fiscal year.

Exelon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, December 4th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, December 4th. Exelon’s dividend payout ratio (DPR) is currently 65.37%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EXC. Truist Financial cut their target price on Exelon from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Friday, October 16th. HSBC initiated coverage on Exelon in a report on Thursday, October 22nd. They issued a “hold” rating and a $44.00 price target on the stock. KeyCorp raised Exelon from an “underweight” rating to a “sector weight” rating and set a $41.00 price target on the stock in a report on Monday, October 12th. Argus dropped their price target on Exelon from $52.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Exelon from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Six investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Exelon has an average rating of “Hold” and a consensus price target of $48.58.

Exelon Company Profile

Exelon Corporation (NASDAQ:EXC) is a regulated utility holding company that delivers electricity and natural gas to residential, commercial and industrial customers. The company operates through six utility subsidiaries: Atlantic City Electric, Baltimore Gas and Electric, Commonwealth Edison, Delmarva Power, PECO and Pepco. Its businesses focus primarily on the transmission, distribution and delivery of energy rather than owning competitive power-generation operations.

Exelon’s utilities serve customers across Illinois, Pennsylvania, Maryland, Delaware, New Jersey and the District of Columbia.