Arizona State Retirement System Increases Stock Position in Exelon Corporation (NASDAQ:EXC)

Arizona State Retirement System raised its stake in Exelon Corporation (NASDAQ:EXC - Free Report) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,857 shares of the company's stock after acquiring an additional 10,176 shares during the quarter. Arizona State Retirement System's holdings in Exelon were worth $13,587,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in Exelon in the fourth quarter valued at about $25,000. Millstone Evans Group LLC purchased a new position in Exelon in the fourth quarter valued at about $28,000. CoreFirst Bank & Trust purchased a new position in Exelon in the fourth quarter valued at about $40,000. Opal Wealth Advisors LLC purchased a new position in Exelon in the first quarter valued at about $50,000. Finally, Redwood Park Advisors LLC purchased a new position in Exelon in the fourth quarter valued at about $44,000. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. KeyCorp cut shares of Exelon from a "sector weight" rating to an "underweight" rating and set a $39.00 price target on the stock. in a research note on Wednesday, May 14th. Guggenheim upped their price target on shares of Exelon from $47.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. BMO Capital Markets upped their price target on shares of Exelon from $46.00 to $50.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Wells Fargo & Company upped their price target on shares of Exelon from $46.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Evercore ISI upped their price target on shares of Exelon from $48.00 to $51.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $47.40.

Exelon Price Performance

NASDAQ EXC traded down $0.12 on Friday, hitting $43.51. The stock had a trading volume of 5,077,161 shares, compared to its average volume of 7,093,809. Exelon Corporation has a 52-week low of $34.82 and a 52-week high of $48.11. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.98 and a current ratio of 1.09. The company has a market capitalization of $43.92 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 2.52 and a beta of 0.39. The firm has a 50-day moving average of $43.46 and a 200-day moving average of $42.97.

Exelon (NASDAQ:EXC - Get Free Report) last posted its earnings results 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 for the quarter, compared to analysts' expectations of $6.30 billion. Exelon had a net margin of 11.44% and a return on equity of 10.29%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. Equities analysts expect that Exelon Corporation will post 2.64 EPS for the current year.

Exelon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, May 12th were given a dividend of $0.40 per share. The ex-dividend date was Monday, May 12th. This represents a $1.60 annualized dividend and a yield of 3.68%. Exelon's payout ratio is currently 59.48%.

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.