Ameriprise Financial Inc. Acquires 680,826 Shares of Exelon Corporation $EXC

Key Points

• Ameriprise Financial Inc. increased its stake in Exelon Corporation by 87.0% during the 1st quarter, owning 1,463,720 shares valued at approximately $67.4 million.
• Exelon announced a quarterly dividend of $0.40 per share, with a dividend yield of 3.6%, payable on September 15th to shareholders recorded as of August 11th.
• Exelon reported earnings of $0.39 EPS, beating estimates of $0.37, with revenues of $5.43 billion, slightly below the expected $5.47 billion.

Ameriprise Financial Inc. raised its holdings in Exelon Corporation (NASDAQ:EXC - Free Report) by 87.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,463,720 shares of the company's stock after acquiring an additional 680,826 shares during the quarter. Ameriprise Financial Inc. owned about 0.14% of Exelon worth $67,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Edgestream Partners L.P. boosted its stake in Exelon by 354.9% in the first quarter. Edgestream Partners L.P. now owns 193,388 shares of the company's stock valued at $8,911,000 after acquiring an additional 150,876 shares during the last quarter. Arizona State Retirement System raised its holdings in Exelon by 3.6% in the first quarter. Arizona State Retirement System now owns 294,857 shares of the company's stock worth $13,587,000 after purchasing an additional 10,176 shares during the period. Cerity Partners LLC raised its holdings in Exelon by 14.9% in the first quarter. Cerity Partners LLC now owns 485,968 shares of the company's stock worth $22,393,000 after purchasing an additional 63,009 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Exelon in the first quarter worth $6,795,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Exelon by 141.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 269,101 shares of the company's stock worth $12,400,000 after purchasing an additional 157,548 shares during the period. 80.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EXC. Morgan Stanley reiterated an "outperform" rating on shares of Exelon in a report on Thursday, August 21st. Evercore ISI increased their target price on shares of Exelon from $48.00 to $51.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Wells Fargo & Company increased their target price on shares of Exelon from $46.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. UBS Group reiterated a "neutral" rating and issued a $48.00 target price (up from $47.00) on shares of Exelon in a report on Friday, July 11th. Finally, KeyCorp cut their target price on shares of Exelon from $39.00 to $37.00 and set an "underweight" rating on the stock in a report on Wednesday, July 16th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $47.20.

Exelon Stock Down 0.2%

Exelon stock traded down $0.08 during mid-day trading on Friday, reaching $43.68. The company's stock had a trading volume of 4,003,379 shares, compared to its average volume of 6,048,129. The company has a market capitalization of $44.12 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 2.56 and a beta of 0.38. Exelon Corporation has a 12 month low of $35.94 and a 12 month high of $48.11. The business's 50 day simple moving average is $43.94 and its 200 day simple moving average is $44.19. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.95.

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

Exelon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 11th will be given 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 yield of 3.7%. Exelon's dividend payout ratio (DPR) is 60.84%.

Exelon 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.