iA Global Asset Management Inc. Boosts Stake in Exelon Corporation (NASDAQ:EXC)

Key Points

• iA Global Asset Management Inc. increased its holdings in Exelon Corporation by 44.1% in the first quarter, owning 156,084 shares worth approximately $7.19 million.
• Exelon recently announced a quarterly dividend of $0.40 per share, with a dividend yield of 3.6% and a payout ratio of 60.84%.
• Analysts have mixed views on Exelon, with target prices ranging from $37.00 to $50.00, and the stock currently holds an average rating of "Hold."

iA Global Asset Management Inc. grew its position in shares of Exelon Corporation (NASDAQ:EXC - Free Report) by 44.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,084 shares of the company's stock after purchasing an additional 47,778 shares during the quarter. iA Global Asset Management Inc.'s holdings in Exelon were worth $7,192,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley decreased their target price on Exelon from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 22nd. UBS Group restated a "neutral" rating and issued a $48.00 price objective (up previously from $47.00) on shares of Exelon in a report on Friday, July 11th. Guggenheim lifted their target price on shares of Exelon from $47.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Evercore ISI increased their target price on shares of Exelon from $48.00 to $51.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Finally, BMO Capital Markets raised their price target on shares of Exelon from $46.00 to $50.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $47.20.

Exelon Trading Down 0.5%

Shares of EXC stock traded down $0.22 on Friday, hitting $45.32. 3,803,099 shares of the stock traded hands, compared to its average volume of 6,082,460. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.95. Exelon Corporation has a twelve month low of $35.94 and a twelve month high of $48.11. The firm's 50-day moving average price is $43.44 and its two-hundred day moving average price is $43.76. The stock has a market capitalization of $45.77 billion, a PE ratio of 17.23, a PEG ratio of 2.67 and a beta of 0.38.

Exelon (NASDAQ:EXC - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. Exelon had a net margin of 11.16% and a return on equity of 9.85%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period in the previous year, the business posted $0.47 EPS. Exelon's revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that Exelon Corporation will post 2.64 EPS for the current year.

Exelon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.60 annualized dividend and a yield of 3.5%. 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.