Convergence Investment Partners LLC purchased a new position in shares of Exelon Corporation (NASDAQ:EXC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,622 shares of the company's stock, valued at approximately $1,181,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS lifted its stake in shares of Exelon by 0.3% during the 1st quarter. KLP Kapitalforvaltning AS now owns 948,544 shares of the company's stock worth $43,709,000 after purchasing an additional 2,400 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Exelon by 8.4% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 966,914 shares of the company's stock valued at $44,555,000 after buying an additional 74,619 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in Exelon by 48.7% in the first quarter. Y Intercept Hong Kong Ltd now owns 9,344 shares of the company's stock valued at $431,000 after buying an additional 3,060 shares during the last quarter. Choreo LLC raised its stake in Exelon by 16.6% in the first quarter. Choreo LLC now owns 21,413 shares of the company's stock valued at $987,000 after buying an additional 3,054 shares during the last quarter. Finally, Clifford Swan Investment Counsel LLC purchased a new stake in Exelon in the first quarter valued at about $218,000. Institutional investors own 80.92% of the company's stock.
Exelon Stock Up 0.6%
EXC traded up $0.25 on Friday, hitting $43.99. 3,894,136 shares of the company were exchanged, compared to its average volume of 7,472,791. Exelon Corporation has a twelve month low of $35.94 and a twelve month high of $48.11. The company has a market cap of $44.41 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 2.55 and a beta of 0.39. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 1.66. The firm has a 50-day moving average price of $43.26 and a two-hundred day moving average price of $43.30.
Exelon (NASDAQ:EXC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06. The business had revenue of $6.71 billion during the quarter, compared to analysts' expectations of $6.30 billion. Exelon had a return on equity of 10.29% and a net margin of 11.44%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. On average, equities analysts predict that Exelon Corporation will post 2.64 earnings per share for the current year.
Exelon Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, May 12th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, May 12th. Exelon's payout ratio is currently 59.48%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on EXC shares. BMO Capital Markets raised their price objective on Exelon from $46.00 to $50.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. KeyCorp reduced their price objective on Exelon from $39.00 to $37.00 and set an "underweight" rating for the company in a research note on Wednesday, July 16th. Morgan Stanley reduced their price objective on Exelon from $49.00 to $48.00 and set an "equal weight" rating for the company in a research note on Thursday, May 22nd. Evercore ISI raised their price objective on Exelon from $48.00 to $51.00 and gave the stock an "in-line" rating in a research note on Friday, May 2nd. Finally, UBS Group reaffirmed a "neutral" rating and set a $48.00 target price (up from $47.00) on shares of Exelon in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $47.20.
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About Exelon
(
Free Report)
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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