Exelon Corporation $EXC Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its holdings in shares of Exelon Corporation (NASDAQ:EXC) by 25.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,816,329 shares of the company’s stock after selling 615,597 shares during the period. Russell Investments Group Ltd. owned 0.18% of Exelon worth $73,484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXC. Assenagon Asset Management S.A. boosted its position in shares of Exelon by 133.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 505,564 shares of the company’s stock worth $23,569,000 after purchasing an additional 289,436 shares in the last quarter. Amundi increased its position in Exelon by 1.3% during the 2nd quarter. Amundi now owns 10,506,650 shares of the company’s stock valued at $489,809,000 after buying an additional 130,712 shares in the last quarter. AXQ Capital LP purchased a new position in Exelon during the second quarter valued at $1,345,000. Envestnet Portfolio Solutions Inc. raised its stake in Exelon by 8.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 308,405 shares of the company’s stock valued at $14,378,000 after buying an additional 24,885 shares during the last quarter. Finally, Cibc World Market Inc. purchased a new position in Exelon during the second quarter valued at $6,894,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

Exelon Stock Performance

NASDAQ:EXC traded up $0.62 during mid-day trading on Friday, reaching $46.25. The company’s stock had a trading volume of 6,433,400 shares, compared to its average volume of 8,510,895. Exelon Corporation has a 12-month low of $39.73 and a 12-month high of $50.65. The firm’s fifty day moving average price is $43.22 and its two-hundred day moving average price is $45.65. The company has a current ratio of 1.03, a quick ratio of 0.93 and a debt-to-equity ratio of 1.70. The stock has a market cap of $47.86 billion, a P/E ratio of 18.00, a PEG ratio of 2.49 and a beta of 0.24.

Exelon (NASDAQ:EXC) last posted its earnings results on Friday, October 30th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.08. Exelon had a net margin of 10.17% and a return on equity of 9.75%. The business had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities analysts forecast that Exelon Corporation will post 2.87 EPS for the current fiscal year.

Exelon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, December 4th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, December 4th. This represents a $1.68 dividend on an annualized basis and a yield of 3.6%. Exelon’s dividend payout ratio is 65.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EXC shares. Argus cut their target price on Exelon from $52.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, September 22nd. HSBC began coverage on Exelon in a report on Thursday, October 22nd. They set a “hold” rating and a $44.00 price target for the company. Truist Financial dropped their price target on shares of Exelon from $48.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday, October 16th. Barclays cut their price objective on shares of Exelon from $49.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, October 19th. Finally, BMO Capital Markets reduced their price objective on shares of Exelon from $47.00 to $45.00 and set a “market perform” rating for the company in a research note on Thursday, October 22nd. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.33.

About Exelon

Exelon is a regulated energy delivery company that operates electric and natural gas utilities. Its businesses deliver energy to homes and businesses, maintain utility infrastructure, and provide related customer services. The company serves customers in Illinois, Pennsylvania, Maryland, Delaware, New Jersey, and the District of Columbia through utilities including ComEd, PECO, BGE, Pepco, Delmarva Power, and Atlantic City Electric. Exelon was formed in 2000 through the merger of PECO Energy and Unicom, then the parent of Commonwealth Edison.