Exelon Corporation $EXC Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP has reduced its stake in Exelon Corporation by 10.8%, selling 88,827 shares during the 1st quarter, leaving it with a total of 734,131 shares worth approximately $33.8 million.
• Despite some recent analyst downgrades, Exelon has an average rating of "Hold" from analysts, with a consensus price target of $47.20.
• The company has recently declared a $0.40 quarterly dividend to be paid in mid-September, representing an annualized yield of 3.6%.

Korea Investment CORP decreased its position in Exelon Corporation (NASDAQ:EXC - Free Report) by 10.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 734,131 shares of the company's stock after selling 88,827 shares during the period. Korea Investment CORP owned approximately 0.07% of Exelon worth $33,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Providence Wealth Advisors LLC boosted its stake in Exelon by 0.6% in the 1st quarter. Providence Wealth Advisors LLC now owns 39,342 shares of the company's stock worth $1,802,000 after purchasing an additional 217 shares during the period. Hazlett Burt & Watson Inc. raised its position in shares of Exelon by 46.4% during the first quarter. Hazlett Burt & Watson Inc. now owns 694 shares of the company's stock valued at $32,000 after buying an additional 220 shares during the last quarter. CWM LLC lifted its holdings in shares of Exelon by 0.7% in the first quarter. CWM LLC now owns 33,775 shares of the company's stock worth $1,556,000 after buying an additional 226 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Exelon by 2.4% during the first quarter. Catalyst Financial Partners LLC now owns 9,761 shares of the company's stock worth $450,000 after acquiring an additional 230 shares during the last quarter. Finally, Centre Asset Management LLC grew its stake in Exelon by 3.2% during the first quarter. Centre Asset Management LLC now owns 7,584 shares of the company's stock valued at $349,000 after acquiring an additional 233 shares in the last quarter. 80.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Evercore ISI boosted their price target on shares of Exelon from $48.00 to $51.00 and gave the stock an "in-line" rating in a research note on Friday, May 2nd. UBS Group reissued a "neutral" rating and set a $48.00 price objective (up from $47.00) on shares of Exelon in a research note on Friday, July 11th. KeyCorp dropped their target price on Exelon from $39.00 to $37.00 and set an "underweight" rating for the company in a report on Wednesday, July 16th. Morgan Stanley decreased their price target on Exelon from $49.00 to $48.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. Finally, Guggenheim raised their price target on Exelon from $47.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Exelon currently has an average rating of "Hold" and a consensus target price of $47.20.

Exelon Trading Up 0.7%

Shares of EXC traded up $0.32 during mid-day trading on Friday, reaching $44.96. 3,729,983 shares of the company's stock traded hands, compared to its average volume of 6,286,346. 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 stock's 50-day moving average is $43.77 and its two-hundred day moving average is $44.12. Exelon Corporation has a 12 month low of $35.94 and a 12 month high of $48.11. The stock has a market cap of $45.41 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.64 and a beta of 0.38.

Exelon (NASDAQ:EXC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.02. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.47 billion. Exelon had a return on equity of 9.85% and a net margin of 11.16%.Exelon's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $0.47 EPS. Exelon has set its FY 2025 guidance at 2.640-2.740 EPS. 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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 11th. Exelon's dividend payout ratio (DPR) is 60.84%.

About Exelon

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.