Exelon Corporation $EXC Holdings Boosted by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Exelon stake by 633.9% in the third quarter, ending with 3.71 million shares valued at approximately $149.9 million. Institutional investors collectively own 80.92% of Exelon.
• Exelon shares opened at $42.48, down 0.3%, and remain below their 50-day and 200-day moving averages. The utility reported quarterly revenue growth of 10% year over year, though earnings per share of $0.43 slightly missed analyst expectations.
• Exelon maintains a quarterly dividend of $0.42 per share, equivalent to a 4.0% annualized yield. Analysts have a consensus “Hold” rating and an average price target of $49.33.

Assenagon Asset Management S.A. grew its stake in shares of Exelon Corporation (NASDAQ:EXC - Free Report) by 633.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,710,111 shares of the company's stock after acquiring an additional 3,204,547 shares during the quarter. Assenagon Asset Management S.A. owned about 0.36% of Exelon worth $149,888,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Exelon during the second quarter valued at $5,583,709,000. Lazard Asset Management LLC lifted its holdings in Exelon by 6.4% in the first quarter. Lazard Asset Management LLC now owns 24,620,304 shares of the company's stock valued at $1,206,887,000 after acquiring an additional 1,490,251 shares during the period. GQG Partners LLC bought a new position in Exelon in the second quarter valued at about $922,917,000. Legal & General Group Plc purchased a new position in Exelon in the second quarter worth about $602,760,000. Finally, Bank of New York Mellon Corp purchased a new position in Exelon in the second quarter worth about $580,842,000. Hedge funds and other institutional investors own 80.92% of the company's stock.

Exelon Trading Down 0.3%

Shares of Exelon stock opened at $42.48 on Friday. The company has a market capitalization of $43.85 billion, a P/E ratio of 15.56, a P/E/G ratio of 2.33 and a beta of 0.30. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 1.09. The company has a fifty day moving average of $43.04 and a 200 day moving average of $45.25. Exelon Corporation has a fifty-two week low of $39.73 and a fifty-two week high of $50.65.

Exelon (NASDAQ:EXC - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.01). Exelon had a net margin of 10.99% and a return on equity of 9.81%. The business had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the business earned $0.39 earnings per share. Exelon's revenue was up 10.0% compared to the same quarter last year. Exelon has set its FY 2026 guidance at 2.810-2.910 EPS. On average, sell-side analysts anticipate that Exelon Corporation will post 2.86 earnings per share for the current fiscal year.

Exelon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, September 4th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, September 4th. Exelon's dividend payout ratio (DPR) is presently 61.54%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EXC shares. KeyCorp upgraded Exelon from an "underweight" rating to a "sector weight" rating in a research note on Monday. Morgan Stanley lowered their price objective on shares of Exelon from $53.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Friday, September 18th. Weiss Ratings reissued a "buy (b-)" rating on shares of Exelon in a report on Tuesday, October 6th. Argus dropped their price objective on shares of Exelon from $52.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, September 22nd. Finally, Truist Financial cut their target price on shares of Exelon from $50.00 to $48.00 and set a "hold" rating for the company in a research report on Thursday, August 13th. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, Exelon presently has an average rating of "Hold" and an average price target of $49.33.

Exelon Company Profile

Exelon Corporation NASDAQ: EXC is a regulated utility holding company focused on the transmission and distribution of electricity and the delivery of natural gas. Through its operating companies, Exelon provides energy delivery, infrastructure, grid modernization, reliability, and related customer services rather than operating a competitive power-generation business.

Exelon's six principal utilities are Commonwealth Edison (ComEd) in Illinois; PECO in Pennsylvania; Baltimore Gas and Electric (BGE) in Maryland; Delmarva Power in Delaware and Maryland; Atlantic City Electric in New Jersey; and Pepco in Washington, DC, and Maryland.

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