Jennison Associates LLC Purchases 1,061,533 Shares of Exelon Corporation (NASDAQ:EXC)

Jennison Associates LLC lifted its holdings in shares of Exelon Corporation (NASDAQ:EXC) by 58.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,868,449 shares of the company’s stock after acquiring an additional 1,061,533 shares during the quarter. Jennison Associates LLC owned 0.28% of Exelon worth $132,178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in Exelon during the fourth quarter valued at $479,597,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Exelon by 37.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,618,055 shares of the company’s stock worth $1,039,545,000 after buying an additional 7,483,873 shares during the period. FMR LLC increased its holdings in shares of Exelon by 46.9% in the fourth quarter. FMR LLC now owns 17,306,652 shares of the company’s stock worth $651,422,000 after buying an additional 5,524,103 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Exelon by 43.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,846,030 shares of the company’s stock valued at $483,525,000 after purchasing an additional 3,878,687 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Exelon by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 127,335,351 shares of the company’s stock valued at $4,792,903,000 after purchasing an additional 3,064,673 shares during the period. 80.92% of the stock is owned by hedge funds and other institutional investors.

Exelon Stock Performance

Shares of EXC stock opened at $43.12 on Friday. Exelon Corporation has a one year low of $35.84 and a one year high of $48.11. The firm’s 50 day moving average price is $43.23 and its 200-day moving average price is $43.09. The firm has a market cap of $43.53 billion, a P/E ratio of 16.02, a P/E/G ratio of 2.51 and a beta of 0.39. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.98 and a current ratio of 1.09.

Exelon (NASDAQ:EXC) last posted its earnings results on Thursday, May 1st. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. The firm had revenue of $6.71 billion for the quarter, compared to the consensus estimate of $6.30 billion. Exelon had a net margin of 11.44% and a return on equity of 10.29%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. As a group, equities research analysts predict that Exelon Corporation will post 2.64 EPS for the current year.

Exelon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, May 12th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.71%. Exelon’s dividend payout ratio (DPR) is presently 59.48%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group reissued a “neutral” rating and issued a $48.00 price target (up from $47.00) on shares of Exelon in a research report on Friday, July 11th. KeyCorp cut their price target on Exelon from $39.00 to $37.00 and set an “underweight” rating for the company in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of Exelon from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Guggenheim increased their price target on shares of Exelon from $47.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, BMO Capital Markets raised their price objective on shares of Exelon from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Exelon currently has a consensus rating of “Hold” and a consensus target price of $47.20.

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.