Allspring Global Investments Holdings LLC Has $17.41 Million Stake in Exelon Corporation $EXC

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Exelon Corporation by 33.8% during Q2, currently holding shares valued at approximately $17.41 million.
• Analysts have varied target prices for Exelon, with Jefferies setting a target of $57.00 and Morgan Stanley lowering theirs from $50.00 to $49.00, labeling the stock as "equal weight."
• Exelon recently announced a quarterly dividend of $0.40 per share, resulting in an annualized dividend yield of 3.3%.

Allspring Global Investments Holdings LLC lowered its stake in shares of Exelon Corporation (NASDAQ:EXC - Free Report) by 33.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 401,027 shares of the company's stock after selling 204,601 shares during the period. Allspring Global Investments Holdings LLC's holdings in Exelon were worth $17,409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXC. GAMMA Investing LLC boosted its stake in shares of Exelon by 26.9% in the 1st quarter. GAMMA Investing LLC now owns 19,751 shares of the company's stock worth $910,000 after buying an additional 4,183 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Exelon by 141.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 269,101 shares of the company's stock worth $12,400,000 after buying an additional 157,548 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Exelon in the 1st quarter worth approximately $6,795,000. Kingswood Wealth Advisors LLC boosted its stake in shares of Exelon by 105.8% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 15,311 shares of the company's stock worth $705,000 after buying an additional 7,871 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its stake in shares of Exelon by 3.6% in the 1st quarter. CWA Asset Management Group LLC now owns 12,105 shares of the company's stock worth $558,000 after buying an additional 415 shares during the last quarter. Hedge funds and other institutional investors own 80.92% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EXC. Jefferies Financial Group set a $57.00 target price on Exelon in a research note on Wednesday. Morgan Stanley cut their target price on Exelon from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Exelon in a research note on Wednesday, October 8th. UBS Group upped their price objective on Exelon from $48.00 to $50.00 and gave the company a "neutral" rating in a research note on Friday, October 10th. Finally, Barclays upped their price objective on Exelon from $48.00 to $52.00 and gave the company an "overweight" rating in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Exelon presently has an average rating of "Hold" and an average price target of $50.00.

Exelon Price Performance

Exelon stock opened at $47.78 on Friday. Exelon Corporation has a 12 month low of $35.94 and a 12 month high of $48.11. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. The business's 50 day simple moving average is $44.63 and its 200 day simple moving average is $44.41. The company has a market cap of $48.26 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.94 and a beta of 0.40.

Exelon (NASDAQ:EXC - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.47 billion. Exelon had a return on equity of 9.85% and a net margin of 11.16%.The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 earnings per share. Exelon has set its FY 2025 guidance at 2.640-2.740 EPS. Sell-side analysts forecast that Exelon Corporation will post 2.64 EPS for the current year.

Exelon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, August 11th were given a dividend of $0.40 per share. The ex-dividend date was Monday, August 11th. This represents a $1.60 annualized dividend and a dividend yield of 3.3%. Exelon's dividend payout ratio is currently 60.84%.

About Exelon

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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