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Citigroup Inc. Acquires 351,502 Shares of Exelon Corporation (NASDAQ:EXC)

Exelon logo with Utilities background

Key Points

  • Citigroup Inc. increased its holdings in Exelon Corporation by 27.2% during the first quarter, owning 1,644,249 shares valued at approximately $75.77 million.
  • Exelon reported earnings of $0.39 per share in its latest quarter, exceeding analysts' expectations of $0.37, while revenue was slightly below consensus estimates at $5.43 billion.
  • The company announced a quarterly dividend of $0.40 per share, reflecting an annualized yield of 3.5%, with a payout ratio currently at 60.84%.
  • Want stock alerts on Exelon? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Citigroup Inc. boosted its holdings in shares of Exelon Corporation (NASDAQ:EXC - Free Report) by 27.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,644,249 shares of the company's stock after acquiring an additional 351,502 shares during the quarter. Citigroup Inc. owned 0.16% of Exelon worth $75,767,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of EXC. Federated Hermes Inc. lifted its position in shares of Exelon by 30.2% during the 4th quarter. Federated Hermes Inc. now owns 31,183 shares of the company's stock worth $1,174,000 after purchasing an additional 7,242 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Exelon in the 4th quarter valued at approximately $24,283,000. Treasurer of the State of North Carolina grew its position in Exelon by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 440,065 shares of the company's stock worth $16,564,000 after acquiring an additional 2,770 shares during the last quarter. Sterling Capital Management LLC grew its position in Exelon by 55.3% during the 4th quarter. Sterling Capital Management LLC now owns 59,717 shares of the company's stock worth $2,248,000 after acquiring an additional 21,274 shares during the last quarter. Finally, Qtron Investments LLC bought a new stake in Exelon during the 4th quarter worth approximately $581,000. 80.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on EXC shares. Guggenheim upped their price objective on Exelon from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. KeyCorp reduced their price objective on Exelon from $39.00 to $37.00 and set an "underweight" rating on the stock in a report on Wednesday, July 16th. BMO Capital Markets upped their price objective on Exelon from $46.00 to $50.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Evercore ISI upped their price objective on Exelon from $48.00 to $51.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Finally, Morgan Stanley cut their price target on Exelon from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $47.20.

Get Our Latest Stock Report on Exelon

Exelon Price Performance

EXC traded down $0.61 during trading on Monday, hitting $44.71. 4,396,355 shares of the stock traded hands, compared to its average volume of 6,018,795. Exelon Corporation has a twelve month low of $35.94 and a twelve month high of $48.11. The company has a market cap of $45.16 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 2.66 and a beta of 0.38. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.85. The business has a 50 day moving average price of $43.46 and a 200 day moving average price of $43.87.

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

Exelon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 11th. Exelon's payout ratio is presently 60.84%.

Exelon Profile

(Free Report)

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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Institutional Ownership by Quarter for Exelon (NASDAQ:EXC)

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