Envestnet Asset Management Inc. lessened its holdings in Exelon Co. (NASDAQ:EXC – Free Report) by 8.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 926,117 shares of the company’s stock after selling 80,074 shares during the period. Envestnet Asset Management Inc. owned about 0.09% of Exelon worth $34,998,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. purchased a new stake in Exelon during the 3rd quarter worth $658,000. QRG Capital Management Inc. purchased a new stake in Exelon during the 3rd quarter worth $12,523,000. Korea Investment CORP increased its stake in Exelon by 5.2% during the 3rd quarter. Korea Investment CORP now owns 626,289 shares of the company’s stock worth $23,667,000 after buying an additional 31,157 shares during the period. Rafferty Asset Management LLC increased its stake in Exelon by 15.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 303,842 shares of the company’s stock worth $11,482,000 after buying an additional 39,752 shares during the period. Finally, WCG Wealth Advisors LLC purchased a new stake in Exelon during the 3rd quarter worth $499,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.
Exelon Trading Up 0.3 %
NASDAQ EXC opened at $36.13 on Friday. Exelon Co. has a one year low of $33.35 and a one year high of $43.71. The company has a 50-day simple moving average of $35.23 and a 200-day simple moving average of $38.02. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.77 and a current ratio of 0.81. The firm has a market capitalization of $36.11 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53.
Exelon (NASDAQ:EXC – Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $3.87 billion. Exelon had a net margin of 10.72% and a return on equity of 9.40%. Exelon’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. On average, equities analysts forecast that Exelon Co. will post 2.39 earnings per share for the current year.
Exelon Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Monday, March 4th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.21%. This is a positive change from Exelon’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, March 1st. Exelon’s payout ratio is presently 61.80%.
Analyst Ratings Changes
Several brokerages have weighed in on EXC. StockNews.com lowered shares of Exelon from a “hold” rating to a “sell” rating in a report on Thursday. JPMorgan Chase & Co. lowered shares of Exelon from an “overweight” rating to a “neutral” rating and set a $41.00 price objective for the company. in a report on Monday, December 18th. Seaport Res Ptn lowered shares of Exelon from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Evercore ISI lowered shares of Exelon from an “outperform” rating to an “in-line” rating in a report on Friday, December 15th. Finally, Royal Bank of Canada decreased their price objective on shares of Exelon from $45.00 to $38.00 and set a “sector perform” rating for the company in a report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Exelon presently has an average rating of “Hold” and a consensus target price of $38.82.
Get Our Latest Research Report on EXC
About Exelon
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.
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