Pinnacle Associates Ltd. reduced its stake in Exelon Corporation (NYSE:EXC) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,548 shares of the energy giant’s stock after selling 1,253 shares during the period. Pinnacle Associates Ltd.’s holdings in Exelon Corporation were worth $669,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the business. Hudock Capital Group LLC lifted its holdings in Exelon Corporation by 0.4% in the second quarter. Hudock Capital Group LLC now owns 3,206 shares of the energy giant’s stock valued at $115,000 after acquiring an additional 13 shares during the period. Cambridge Advisors Inc. raised its stake in shares of Exelon Corporation by 0.3% in the second quarter. Cambridge Advisors Inc. now owns 6,913 shares of the energy giant’s stock worth $249,000 after buying an additional 23 shares during the period. Live Your Vision LLC raised its stake in shares of Exelon Corporation by 0.9% in the second quarter. Live Your Vision LLC now owns 2,977 shares of the energy giant’s stock worth $115,000 after buying an additional 26 shares during the period. Chesley Taft & Associates LLC raised its stake in shares of Exelon Corporation by 0.6% in the second quarter. Chesley Taft & Associates LLC now owns 5,915 shares of the energy giant’s stock worth $213,000 after buying an additional 35 shares during the period. Finally, Guardian Life Insurance Co. of America raised its stake in shares of Exelon Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 3,579 shares of the energy giant’s stock worth $129,000 after buying an additional 42 shares during the period. 76.79% of the stock is currently owned by institutional investors.
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Exelon Corporation (NYSE:EXC) traded up 0.42% during mid-day trading on Friday, reaching $38.26. The company’s stock had a trading volume of 1,552,490 shares. The firm has a market cap of $36.73 billion, a PE ratio of 20.23 and a beta of 0.28. Exelon Corporation has a one year low of $29.82 and a one year high of $38.78. The stock’s 50 day moving average is $38.04 and its 200 day moving average is $36.43.
Exelon Corporation (NYSE:EXC) last issued its quarterly earnings results on Wednesday, August 2nd. The energy giant reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The business had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $7.88 billion. Exelon Corporation had a net margin of 5.41% and a return on equity of 8.47%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. On average, analysts anticipate that Exelon Corporation will post $2.68 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 $0.3275 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.31 dividend on an annualized basis and a yield of 3.44%. Exelon Corporation’s payout ratio is 68.59%.
In other news, insider Denis P. O’brien sold 30,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $38.50, for a total transaction of $1,155,000.00. Following the transaction, the insider now owns 57,243 shares in the company, valued at approximately $2,203,855.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paymon Aliabadi sold 13,333 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $38.31, for a total transaction of $510,787.23. Following the transaction, the executive vice president now owns 39,769 shares in the company, valued at approximately $1,523,550.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 475,285 shares of company stock valued at $18,067,297. Insiders own 0.70% of the company’s stock.
EXC has been the subject of a number of recent research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $41.00 target price on shares of Exelon Corporation in a report on Monday, July 17th. BidaskClub upgraded Exelon Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Citigroup Inc. raised Exelon Corporation from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $43.00 in a research note on Thursday, July 27th. Barclays PLC reissued an “overweight” rating and set a $44.00 price target (up from $43.00) on shares of Exelon Corporation in a research note on Thursday, August 3rd. Finally, Wolfe Research raised Exelon Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Exelon Corporation has an average rating of “Buy” and a consensus price target of $40.17.
About Exelon Corporation
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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