Alberta Investment Management Corp Sells 64,700 Shares of Exelon Corporation (NASDAQ:EXC)

Key Points

• Alberta Investment Management Corp has reduced its stake in Exelon Corporation by 12.6%, now holding 448,817 shares valued at approximately $20.68 million after selling 64,700 shares in the first quarter.
• Several institutional investors increased their holdings in Exelon, with Edgestream Partners L.P. notably raising its stake by 354.9%.
• Wells Fargo & Company and Evercore ISI have both raised their price targets for Exelon shares, reflecting positive sentiment, with targets going up to $51.00 and $50.00 respectively.

Alberta Investment Management Corp lowered its stake in Exelon Corporation (NASDAQ:EXC - Free Report) by 12.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 448,817 shares of the company's stock after selling 64,700 shares during the quarter. Alberta Investment Management Corp's holdings in Exelon were worth $20,681,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its holdings in Exelon by 37.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,618,055 shares of the company's stock worth $1,039,545,000 after buying an additional 7,483,873 shares during the last quarter. FMR LLC increased its holdings in Exelon by 46.9% during the fourth quarter. FMR LLC now owns 17,306,652 shares of the company's stock worth $651,422,000 after buying an additional 5,524,103 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Exelon by 43.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,846,030 shares of the company's stock worth $483,525,000 after buying an additional 3,878,687 shares during the last quarter. Invesco Ltd. increased its holdings in Exelon by 25.8% during the fourth quarter. Invesco Ltd. now owns 13,718,745 shares of the company's stock worth $516,374,000 after buying an additional 2,817,174 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in Exelon by 125.6% during the fourth quarter. Royal Bank of Canada now owns 3,838,729 shares of the company's stock worth $144,489,000 after buying an additional 2,137,439 shares during the last quarter. Institutional investors own 80.92% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Exelon from $46.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. BMO Capital Markets upped their price objective on shares of Exelon from $46.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, April 28th. UBS Group reiterated a "neutral" rating and issued a $48.00 price objective (up from $47.00) on shares of Exelon in a report on Friday, July 11th. Guggenheim upped their price objective on shares of Exelon from $47.00 to $50.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Morgan Stanley reduced their target price on shares of Exelon from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $47.20.

Exelon Price Performance

EXC traded down $0.27 on Friday, hitting $44.67. 9,211,262 shares of the stock were exchanged, compared to its average volume of 5,201,512. Exelon Corporation has a 12 month low of $35.94 and a 12 month high of $48.11. The business has a 50-day moving average of $43.29 and a two-hundred day moving average of $43.60. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.98. The firm has a market capitalization of $45.10 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 2.62 and a beta of 0.38.

Exelon (NASDAQ:EXC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. Exelon had a net margin of 11.16% and a return on equity of 9.85%. The business had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. Exelon's revenue was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that Exelon Corporation will post 2.64 EPS for the current fiscal year.

Exelon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 11th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.6%. Exelon's dividend payout ratio is 59.48%.

Exelon Company Profile

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.