State Street Corp Buys 2,491,064 Shares of Exelon Corporation $EXC

State Street Corp raised its stake in shares of Exelon Corporation (NASDAQ:EXC) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,077,850 shares of the company’s stock after buying an additional 2,491,064 shares during the period. State Street Corp owned about 6.34% of Exelon worth $2,782,260,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in EXC. Hager Investment Management Services LLC increased its position in Exelon by 100.0% in the second quarter. Hager Investment Management Services LLC now owns 670 shares of the company’s stock worth $29,000 after purchasing an additional 335 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Exelon in the second quarter worth approximately $29,000. CoreFirst Bank & Trust bought a new stake in shares of Exelon during the 2nd quarter worth approximately $38,000. Investment Research & Advisory Group Inc. purchased a new position in Exelon during the 2nd quarter valued at $39,000. Finally, Sound Income Strategies LLC grew its position in Exelon by 213.7% in the 2nd quarter. Sound Income Strategies LLC now owns 1,189 shares of the company’s stock valued at $52,000 after acquiring an additional 810 shares during the last quarter. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. KeyCorp lifted their target price on Exelon from $37.00 to $42.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 15th. Evercore ISI started coverage on shares of Exelon in a report on Monday, October 6th. They issued an “outperform” rating and a $57.00 price target on the stock. Morgan Stanley reaffirmed an “underperform” rating and issued a $52.00 price target on shares of Exelon in a research note on Thursday, November 20th. Jefferies Financial Group set a $57.00 price objective on shares of Exelon in a report on Wednesday, October 15th. Finally, Wells Fargo & Company upgraded shares of Exelon to a “strong-buy” rating in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $50.45.

Exelon Stock Up 1.0%

Shares of Exelon stock opened at $43.76 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.94 and a quick ratio of 0.85. The stock has a market cap of $44.21 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 2.66 and a beta of 0.45. The firm’s 50-day moving average is $46.25 and its two-hundred day moving average is $44.57. Exelon Corporation has a 1 year low of $35.94 and a 1 year high of $48.51.

Exelon (NASDAQ:EXC) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.69 by $0.17. Exelon had a net margin of 11.60% and a return on equity of 10.28%. The business had revenue of $6.71 billion during the quarter, compared to analyst estimates of $6.40 billion. Exelon has set its FY 2025 guidance at 2.640-2.740 EPS. As a group, research analysts expect that Exelon Corporation will post 2.64 earnings per share for the current fiscal year.

Exelon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a yield of 3.7%. Exelon’s dividend payout ratio is currently 57.35%.

Exelon Company Profile

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.