Corebridge Financial Inc. Sells 16,706 Shares of Exelon Corporation $EXC

Key Points

• Corebridge Financial Inc. reduced its stake in Exelon Corporation by 4.1%, selling 16,706 shares and holding 395,233 shares worth $18.2 million at the end of the quarter.
• Exelon reported a quarterly EPS of $0.39, exceeding the estimated $0.37, with revenues at $5.43 billion compared to expected $5.47 billion, indicating a slight year-over-year revenue growth of 1.2%.
• The company declared a quarterly dividend of $0.40, with a yield of 3.6%, and has set the FY 2025 EPS guidance in the range of 2.640-2.740.

Corebridge Financial Inc. lowered its position in shares of Exelon Corporation (NASDAQ:EXC - Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 395,233 shares of the company's stock after selling 16,706 shares during the period. Corebridge Financial Inc.'s holdings in Exelon were worth $18,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. bought a new stake in shares of Exelon in the fourth quarter worth about $25,000. Hazlett Burt & Watson Inc. lifted its holdings in Exelon by 46.4% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 694 shares of the company's stock worth $32,000 after buying an additional 220 shares during the period. ANTIPODES PARTNERS Ltd purchased a new stake in Exelon in the 1st quarter worth approximately $34,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Exelon in the 1st quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Exelon during the first quarter valued at approximately $50,000. Hedge funds and other institutional investors own 80.92% of the company's stock.

Exelon Stock Down 0.2%

EXC traded down $0.08 during midday 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 7,275,749. Exelon Corporation has a 1 year low of $35.94 and a 1 year high of $48.11. The stock's 50-day moving average is $43.92 and its 200-day moving average is $44.18. The firm has a market capitalization of $44.12 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 2.60 and a beta of 0.38. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.02. Exelon had a return on equity of 9.85% and a net margin of 11.16%.The firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.47 billion. During the same period in the previous year, the firm posted $0.47 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. Exelon has set its FY 2025 guidance at 2.640-2.740 EPS. As a group, research analysts expect that Exelon Corporation will post 2.64 EPS for the current 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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, August 11th. Exelon's dividend payout ratio is currently 60.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EXC. Wells Fargo & Company raised their price target on Exelon from $46.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Guggenheim upped their price objective on shares of Exelon from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Evercore ISI lifted their target price 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. KeyCorp reduced their price target on shares of Exelon from $39.00 to $37.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 16th. Finally, Morgan Stanley restated an "outperform" rating on shares of Exelon in a report on Thursday, August 21st. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Exelon has a consensus rating of "Hold" and an average target price of $47.20.

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.