Exelon Corporation $EXC Stake Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in Exelon Corporation (NASDAQ:EXC) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,797,816 shares of the company’s stock after selling 55,595 shares during the period. Bank of New York Mellon Corp’s holdings in Exelon were worth $555,681,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Edgestream Partners L.P. raised its stake in shares of Exelon by 354.9% during the 1st quarter. Edgestream Partners L.P. now owns 193,388 shares of the company’s stock worth $8,911,000 after purchasing an additional 150,876 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Exelon by 3.6% during the 1st quarter. Arizona State Retirement System now owns 294,857 shares of the company’s stock worth $13,587,000 after purchasing an additional 10,176 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Exelon by 14.9% during the 1st quarter. Cerity Partners LLC now owns 485,968 shares of the company’s stock worth $22,393,000 after purchasing an additional 63,009 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Exelon during the 1st quarter valued at about $47,789,000. Finally, Intech Investment Management LLC increased its holdings in shares of Exelon by 24.6% during the 1st quarter. Intech Investment Management LLC now owns 44,576 shares of the company’s stock valued at $2,054,000 after acquiring an additional 8,809 shares during the last quarter. 80.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXC has been the topic of a number of analyst reports. Jefferies Financial Group set a $57.00 price objective on Exelon in a report on Wednesday, October 15th. TD Cowen initiated coverage on Exelon in a report on Thursday, October 16th. They set a “hold” rating and a $49.00 price objective on the stock. KeyCorp increased their price objective on Exelon from $37.00 to $42.00 and gave the company an “underweight” rating in a report on Wednesday, October 15th. Morgan Stanley increased their price objective on Exelon from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Exelon in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.55.

Exelon Stock Performance

EXC opened at $46.20 on Tuesday. The firm has a market capitalization of $46.66 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.93 and a beta of 0.40. The stock’s 50 day moving average price is $45.25 and its two-hundred day moving average price is $44.53. 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 Corporation has a 12-month low of $35.94 and a 12-month high of $48.51.

Exelon Announces Dividend

The firm 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 $0.40 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a yield of 3.5%. Exelon’s dividend payout ratio (DPR) 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.