Spire Wealth Management Sells 23,026 Shares of Exelon Corporation $EXC

Spire Wealth Management lessened its position in Exelon Corporation (NASDAQ:EXC) by 71.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,184 shares of the company’s stock after selling 23,026 shares during the period. Spire Wealth Management’s holdings in Exelon were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Exelon by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 127,917,037 shares of the company’s stock worth $5,894,417,000 after purchasing an additional 581,686 shares during the period. Deutsche Bank AG increased its holdings in shares of Exelon by 11.6% during the 1st quarter. Deutsche Bank AG now owns 19,077,520 shares of the company’s stock worth $879,092,000 after purchasing an additional 1,988,212 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Exelon by 0.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 15,837,173 shares of the company’s stock worth $729,777,000 after purchasing an additional 106,917 shares during the period. Invesco Ltd. increased its holdings in shares of Exelon by 0.6% during the 1st quarter. Invesco Ltd. now owns 13,802,263 shares of the company’s stock worth $636,008,000 after purchasing an additional 83,518 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Exelon by 11.8% during the 1st quarter. Northern Trust Corp now owns 12,531,900 shares of the company’s stock worth $577,470,000 after purchasing an additional 1,319,637 shares during the period. Institutional investors own 80.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. BTIG Research assumed coverage on shares of Exelon in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. KeyCorp boosted their price objective on shares of Exelon from $37.00 to $42.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Morgan Stanley boosted their price objective on shares of Exelon from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. Wells Fargo & Company raised shares of Exelon to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, TD Cowen started coverage on shares of Exelon in a research note on Thursday, October 16th. They issued a “hold” rating and a $49.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.55.

Exelon Stock Performance

NASDAQ EXC opened at $46.12 on Monday. The stock has a market cap of $46.58 billion, a P/E ratio of 17.54, a PEG ratio of 2.93 and a beta of 0.40. The company’s 50-day simple moving average is $45.22 and its 200 day simple moving average is $44.54. Exelon Corporation has a twelve month low of $35.94 and a twelve month high of $48.51. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC) last posted its earnings results on Thursday, July 31st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Exelon had a net margin of 11.16% and a return on equity of 9.85%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. As a group, research analysts forecast that Exelon Corporation will post 2.64 earnings per share for the current fiscal year.

Exelon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 10th will be given a $0.40 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a yield of 3.5%. Exelon’s payout ratio is 60.84%.

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.