Skandinaviska Enskilda Banken AB publ Acquires 130,350 Shares of Exelon Corporation (NASDAQ:EXC)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Exelon Corporation by 160.4% during Q1, owning 211,639 shares valued at approximately $9.75 million.
• Exelon reported earnings of $0.92 per share for the quarter, surpassing expectations, with revenues reaching $6.71 billion, an 11.1% increase year-over-year.
• The company announced a quarterly dividend of $0.40 per share, reflecting an annualized yield of 3.64% with a payout ratio of 59.48%.

Skandinaviska Enskilda Banken AB publ boosted its position in shares of Exelon Corporation (NASDAQ:EXC - Free Report) by 160.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 211,639 shares of the company's stock after purchasing an additional 130,350 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Exelon were worth $9,749,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EXC. Ameriflex Group Inc. acquired a new stake in Exelon in the fourth quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. boosted its stake in Exelon by 46.4% in the first quarter. Hazlett Burt & Watson Inc. now owns 694 shares of the company's stock valued at $32,000 after acquiring an additional 220 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in Exelon in the first quarter valued at approximately $34,000. Redwood Park Advisors LLC acquired a new stake in Exelon in the fourth quarter valued at approximately $44,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Exelon in the first quarter worth $50,000. 80.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EXC has been the topic of a number of recent research reports. UBS Group restated a "neutral" rating and set a $48.00 price target (up from $47.00) on shares of Exelon in a research report on Friday, July 11th. Evercore ISI boosted their price target 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. Wells Fargo & Company lifted their price objective on shares of Exelon from $46.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Guggenheim upped their target price on shares of Exelon from $47.00 to $50.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, KeyCorp reduced their price target on shares of Exelon from $39.00 to $37.00 and set an "underweight" rating for the company in a research report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Exelon presently has a consensus rating of "Hold" and an average price target of $47.20.

Exelon Stock Up 0.3%

Shares of EXC traded up $0.12 during trading hours on Wednesday, reaching $44.42. The company's stock had a trading volume of 1,281,799 shares, compared to its average volume of 7,401,357. The firm has a market cap of $44.84 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 2.55 and a beta of 0.39. Exelon Corporation has a 1-year low of $35.94 and a 1-year high of $48.11. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The company has a 50 day moving average of $43.23 and a two-hundred day moving average of $43.46.

Exelon (NASDAQ:EXC - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.06. The firm had revenue of $6.71 billion during the quarter, compared to analysts' expectations of $6.30 billion. Exelon had a return on equity of 10.29% and a net margin of 11.44%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. As a group, research analysts predict that Exelon Corporation will post 2.64 EPS for the current fiscal 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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.60%. Exelon's payout ratio is currently 59.48%.

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.