Keybank National Association OH reduced its holdings in Exelon Corporation (NYSE:EXC) by 28.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,195 shares of the energy giant’s stock after selling 10,172 shares during the period. Keybank National Association OH’s holdings in Exelon Corporation were worth $909,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in EXC. BlackRock Inc. boosted its holdings in shares of Exelon Corporation by 3,711.9% in the 1st quarter. BlackRock Inc. now owns 74,283,986 shares of the energy giant’s stock valued at $2,672,738,000 after acquiring an additional 72,335,239 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Exelon Corporation by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 64,584,297 shares of the energy giant’s stock valued at $2,323,743,000 after acquiring an additional 2,744,360 shares during the last quarter. FMR LLC boosted its holdings in shares of Exelon Corporation by 4.4% in the 1st quarter. FMR LLC now owns 48,274,820 shares of the energy giant’s stock valued at $1,736,928,000 after acquiring an additional 2,041,157 shares during the last quarter. State of Tennessee Treasury Department boosted its holdings in shares of Exelon Corporation by 385.6% in the 1st quarter. State of Tennessee Treasury Department now owns 1,748,932 shares of the energy giant’s stock valued at $62,927,000 after acquiring an additional 1,388,744 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Exelon Corporation by 24.2% in the 1st quarter. Morgan Stanley now owns 6,860,043 shares of the energy giant’s stock valued at $246,825,000 after acquiring an additional 1,335,673 shares during the last quarter. 76.78% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Exelon Corporation from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. KeyCorp reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Exelon Corporation in a report on Friday, September 1st. BidaskClub raised shares of Exelon Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Barclays PLC reissued an “overweight” rating and set a $44.00 price target (up from $43.00) on shares of Exelon Corporation in a report on Wednesday, August 9th. Finally, Citigroup Inc. raised shares of Exelon Corporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $36.00 to $43.00 in a report on Thursday, July 27th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Exelon Corporation currently has an average rating of “Buy” and an average price target of $40.17.
In related news, CFO Jonathan W. Thayer sold 202,950 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $38.00, for a total value of $7,712,100.00. Following the sale, the chief financial officer now directly owns 237,181 shares in the company, valued at approximately $9,012,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan W. Thayer sold 215,669 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $38.00, for a total transaction of $8,195,422.00. Following the completion of the sale, the executive vice president now owns 237,181 shares in the company, valued at $9,012,878. The disclosure for this sale can be found here. Insiders have sold a total of 461,952 shares of company stock worth $17,573,309 over the last 90 days. Insiders own 0.70% of the company’s stock.
Exelon Corporation (NYSE EXC) opened at 37.12 on Friday. The stock has a market capitalization of $35.64 billion, a P/E ratio of 19.63 and a beta of 0.28. Exelon Corporation has a 12-month low of $29.82 and a 12-month high of $38.78. The firm’s 50-day moving average is $37.97 and its 200 day moving average is $36.45.
Exelon Corporation (NYSE:EXC) last issued its earnings results on Wednesday, August 2nd. The energy giant reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $7.88 billion. Exelon Corporation had a net margin of 5.41% and a return on equity of 8.47%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. Equities analysts expect that Exelon Corporation will post $2.69 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th were given a dividend of $0.3275 per share. The ex-dividend date was Friday, August 11th. This represents a $1.31 annualized dividend and a dividend yield of 3.53%. Exelon Corporation’s payout ratio is currently 68.59%.
Exelon Corporation Profile
Exelon Corporation is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. The Company, through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), is engaged in the energy delivery businesses.
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