81,328 Exelon Corporation $EXC Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Exelon stake by 3.4%, selling 81,328 shares and retaining 2.34 million shares valued at approximately $94.7 million. Institutional investors collectively own 80.92% of Exelon.
• Analysts maintain a consensus “Hold” rating, with a target price of $48.58; recent price targets from Morgan Stanley, Barclays, JPMorgan, and BMO Capital Markets were lowered.
• Exelon exceeded quarterly expectations, reporting $0.87 in EPS versus the $0.79 estimate and $7.32 billion in revenue. The company also declared a quarterly dividend of $0.42 per share, representing a 3.6% annualized yield.

Sumitomo Mitsui Trust Group Inc. reduced its position in Exelon Corporation (NASDAQ:EXC - Free Report) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,344,113 shares of the company's stock after selling 81,328 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Exelon worth $94,702,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EXC. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Exelon during the third quarter valued at $30,207,000. ProShare Advisors LLC raised its position in Exelon by 2.8% in the 3rd quarter. ProShare Advisors LLC now owns 1,274,125 shares of the company's stock worth $51,475,000 after buying an additional 35,135 shares during the last quarter. Cidel Asset Management Inc. raised its position in Exelon by 5.4% in the 3rd quarter. Cidel Asset Management Inc. now owns 11,925 shares of the company's stock worth $482,000 after buying an additional 613 shares during the last quarter. International Assets Investment Management LLC raised its position in Exelon by 282.7% in the 3rd quarter. International Assets Investment Management LLC now owns 60,000 shares of the company's stock worth $2,424,000 after buying an additional 44,323 shares during the last quarter. Finally, Soltis Investment Advisors LLC purchased a new position in Exelon in the 3rd quarter worth about $283,000. 80.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EXC. Morgan Stanley dropped their price target on shares of Exelon from $50.00 to $49.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 21st. Barclays decreased their price objective on shares of Exelon from $49.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, October 19th. JPMorgan Chase & Co. lowered their price objective on shares of Exelon from $47.00 to $46.00 and set a "neutral" rating on the stock in a research report on Monday, October 19th. Jefferies Financial Group restated a "hold" rating on shares of Exelon in a research report on Wednesday, October 28th. Finally, BMO Capital Markets dropped their target price on shares of Exelon from $47.00 to $45.00 and set a "market perform" rating on the stock in a report on Thursday, October 22nd. Six investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Exelon presently has a consensus rating of "Hold" and a consensus target price of $48.58.

Exelon Stock Up 0.6%

EXC stock opened at $46.45 on Tuesday. Exelon Corporation has a fifty-two week low of $39.73 and a fifty-two week high of $50.65. The business's 50-day moving average is $42.91 and its two-hundred day moving average is $45.59. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 1.09. The company has a market cap of $47.95 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.45 and a beta of 0.30.

Exelon (NASDAQ:EXC - Get Free Report) last released its quarterly earnings results on Friday, October 30th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.08. Exelon had a return on equity of 9.81% and a net margin of 10.99%. The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same period in the previous year, the company posted $0.86 EPS. The business's quarterly revenue was up 9.2% compared to the same quarter last year. As a group, analysts forecast that Exelon Corporation will post 2.86 earnings per share for the current year.

Exelon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, December 4th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.6%. Exelon's dividend payout ratio (DPR) is presently 65.37%.

Exelon Company Profile

Exelon Corporation NASDAQ: EXC is a regulated utility holding company that delivers electricity and natural gas to residential, commercial and industrial customers. The company operates through six utility subsidiaries: Atlantic City Electric, Baltimore Gas and Electric, Commonwealth Edison, Delmarva Power, PECO and Pepco. Its businesses focus primarily on the transmission, distribution and delivery of energy rather than owning competitive power-generation operations.

Exelon's utilities serve customers across Illinois, Pennsylvania, Maryland, Delaware, New Jersey and the District of Columbia.

Want to see what other hedge funds are holding EXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelon Corporation (NASDAQ:EXC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.