Exelon Corporation $EXC Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments purchased 747,694 Exelon shares worth approximately $30.2 million, while institutional investors and hedge funds collectively owned 80.92% of the stock.
• Analysts maintain a predominantly cautious outlook, with an average rating of “Hold” and an average price target of $48.58; six analysts rate Exelon a Buy, 13 a Hold, and one a Sell.
• Exelon reported quarterly EPS of $0.87, exceeding estimates by $0.08, while revenue rose 9.2% year over year to $7.32 billion. The company also declared a quarterly dividend of $0.42, representing a 3.6% annualized yield.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Exelon Corporation (NASDAQ:EXC - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 747,694 shares of the company's stock, valued at approximately $30,207,000. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Exelon at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. ProShare Advisors LLC raised its position in shares of Exelon by 2.8% during the 3rd quarter. ProShare Advisors LLC now owns 1,274,125 shares of the company's stock worth $51,475,000 after acquiring an additional 35,135 shares in the last quarter. Cidel Asset Management Inc. boosted its holdings in Exelon by 5.4% in the third quarter. Cidel Asset Management Inc. now owns 11,925 shares of the company's stock valued at $482,000 after purchasing an additional 613 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Exelon by 282.7% in the third quarter. International Assets Investment Management LLC now owns 60,000 shares of the company's stock valued at $2,424,000 after purchasing an additional 44,323 shares in the last quarter. Soltis Investment Advisors LLC acquired a new position in Exelon in the third quarter valued at approximately $283,000. Finally, Choreo LLC increased its stake in Exelon by 1.2% in the third quarter. Choreo LLC now owns 25,254 shares of the company's stock valued at $1,020,000 after purchasing an additional 303 shares during the last quarter. 80.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EXC. Jefferies Financial Group reissued a "hold" rating on shares of Exelon in a report on Wednesday, October 28th. Truist Financial reduced their price objective on shares of Exelon from $48.00 to $46.00 and set a "hold" rating for the company in a research report on Friday, October 16th. Argus lowered their target price on shares of Exelon from $52.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, September 22nd. The Goldman Sachs Group dropped their target price on shares of Exelon from $45.00 to $44.00 in a research report on Thursday, October 15th. Finally, HSBC assumed coverage on shares of Exelon in a research report on Thursday, October 22nd. They issued a "hold" rating and a $44.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $48.58.

Exelon Stock Up 0.6%

Shares of NASDAQ EXC opened at $46.45 on Tuesday. The stock has a market cap of $47.95 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.45 and a beta of 0.30. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 1.71. Exelon Corporation has a 52-week low of $39.73 and a 52-week high of $50.65. The business has a 50-day moving average price of $42.91 and a 200 day moving average price of $45.59.

Exelon (NASDAQ:EXC - Get Free Report) last released its quarterly earnings results on Friday, October 30th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.08. Exelon had a return on equity of 9.81% and a net margin of 10.99%. The firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter last year, the business posted $0.86 EPS. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. Equities research analysts forecast that Exelon Corporation will post 2.86 earnings per share for the current year.

Exelon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, December 4th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, December 4th. Exelon's dividend payout ratio (DPR) is currently 65.37%.

Exelon Company Profile

Exelon Corporation NASDAQ: EXC is a regulated utility holding company that delivers electricity and natural gas to residential, commercial and industrial customers. The company operates through six utility subsidiaries: Atlantic City Electric, Baltimore Gas and Electric, Commonwealth Edison, Delmarva Power, PECO and Pepco. Its businesses focus primarily on the transmission, distribution and delivery of energy rather than owning competitive power-generation operations.

Exelon's utilities serve customers across Illinois, Pennsylvania, Maryland, Delaware, New Jersey and the District of Columbia.

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