Old Mutual Global Investors UK Ltd. lowered its position in Exelon Corporation (NYSE:EXC) by 98.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,318 shares of the energy giant’s stock after selling 1,333,939 shares during the quarter. Old Mutual Global Investors UK Ltd.’s holdings in Exelon Corporation were worth $877,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its position in Exelon Corporation by 3,711.9% during the 1st quarter. BlackRock Inc. now owns 74,283,986 shares of the energy giant’s stock worth $2,672,738,000 after purchasing an additional 72,335,239 shares in the last quarter. Vanguard Group Inc. increased its position in Exelon Corporation by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 64,584,297 shares of the energy giant’s stock worth $2,323,743,000 after purchasing an additional 2,744,360 shares in the last quarter. State Street Corp increased its position in Exelon Corporation by 1.9% during the 1st quarter. State Street Corp now owns 56,988,557 shares of the energy giant’s stock worth $2,050,464,000 after purchasing an additional 1,066,298 shares in the last quarter. FMR LLC increased its position in Exelon Corporation by 4.4% during the 1st quarter. FMR LLC now owns 48,274,820 shares of the energy giant’s stock worth $1,736,928,000 after purchasing an additional 2,041,157 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Exelon Corporation by 0.8% during the 1st quarter. Wellington Management Group LLP now owns 23,861,309 shares of the energy giant’s stock worth $858,530,000 after purchasing an additional 180,098 shares in the last quarter. Institutional investors and hedge funds own 76.79% of the company’s stock.
A number of analysts recently commented on the company. Deutsche Bank AG reiterated a “buy” rating and set a $41.00 price objective on shares of Exelon Corporation in a research report on Monday, July 17th. BidaskClub upgraded Exelon Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Citigroup Inc. upgraded Exelon Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $43.00 in a research report on Thursday, July 27th. Barclays PLC reiterated an “overweight” rating and set a $44.00 price objective (up previously from $43.00) on shares of Exelon Corporation in a research report on Thursday, August 3rd. Finally, Wolfe Research upgraded Exelon Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $40.17.
In other news, EVP Paymon Aliabadi sold 13,333 shares of the stock in a transaction that occurred 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 directly owns 53,102 shares of the company’s stock, valued at approximately $1,967,429.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jonathan W. Thayer sold 202,950 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $38.00, for a total value of $7,712,100.00. Following the completion of the transaction, the chief financial officer now directly owns 237,181 shares of the company’s stock, valued at $9,012,878. The disclosure for this sale can be found here. Over the last three months, insiders sold 461,952 shares of company stock valued at $17,556,510. 0.70% of the stock is currently owned by insiders.
Shares of Exelon Corporation (NYSE:EXC) opened at 38.17 on Monday. The firm’s 50-day moving average price is $37.96 and its 200 day moving average price is $36.38. The stock has a market capitalization of $36.65 billion, a P/E ratio of 20.19 and a beta of 0.28. Exelon Corporation has a 12-month low of $29.82 and a 12-month high of $38.78.
Exelon Corporation (NYSE:EXC) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter last year, the company earned $0.65 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts predict that Exelon Corporation will post $2.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th were issued a $0.3275 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 3.43%. Exelon Corporation’s payout ratio is presently 68.59%.
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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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