Invesco Ltd. Buys 83,518 Shares of Exelon Corporation (NASDAQ:EXC)

Key Points

• Invesco Ltd. increased its holdings in Exelon Corporation by 0.6%, owning approximately 13.8 million shares valued at $636 million.
• Recent analyst reports have raised Exelon's price targets, with Guggenheim setting it at $50 and Evercore ISI at $51, indicating a generally positive outlook for the stock.
• Exelon announced a quarterly dividend of $0.40 per share, yielding 3.5%, with a payout ratio of 60.84% as of the last filing.

Invesco Ltd. increased its position in shares of Exelon Corporation (NASDAQ:EXC - Free Report) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,802,263 shares of the company's stock after purchasing an additional 83,518 shares during the quarter. Invesco Ltd. owned approximately 1.37% of Exelon worth $636,008,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Exelon by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 127,917,037 shares of the company's stock valued at $5,894,417,000 after acquiring an additional 581,686 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Exelon by 37.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,618,055 shares of the company's stock valued at $1,039,545,000 after acquiring an additional 7,483,873 shares in the last quarter. Lazard Asset Management LLC increased its position in Exelon by 2.7% in the 4th quarter. Lazard Asset Management LLC now owns 24,662,037 shares of the company's stock valued at $928,277,000 after acquiring an additional 653,627 shares in the last quarter. Deutsche Bank AG increased its position in Exelon by 11.6% in the 1st quarter. Deutsche Bank AG now owns 19,077,520 shares of the company's stock valued at $879,092,000 after acquiring an additional 1,988,212 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Exelon by 0.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 15,837,173 shares of the company's stock valued at $729,777,000 after acquiring an additional 106,917 shares in the last quarter. Institutional investors and hedge funds own 80.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EXC shares. Morgan Stanley lowered their price objective on shares of Exelon from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. UBS Group reaffirmed a "neutral" rating and issued a $48.00 target price (up previously from $47.00) on shares of Exelon in a research note on Friday, July 11th. Guggenheim raised their target price on shares of Exelon from $47.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised their target price on shares of Exelon from $46.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Evercore ISI raised their target price 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. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $47.20.

Exelon Trading Down 1.3%

Exelon stock traded down $0.61 during midday trading on Monday, hitting $44.71. 4,396,355 shares of the stock were exchanged, compared to its average volume of 6,018,795. The company has a fifty day simple moving average of $43.46 and a two-hundred day simple moving average of $43.87. Exelon Corporation has a 52 week low of $35.94 and a 52 week high of $48.11. The stock has a market capitalization of $45.16 billion, a PE ratio of 17.00, a P/E/G ratio of 2.66 and a beta of 0.38. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.39 earnings per share for the quarter, topping 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 business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter last year, the firm earned $0.47 EPS. Exelon's quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that Exelon Corporation will post 2.64 EPS for the current fiscal year.

Exelon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 3.6%. Exelon's dividend payout ratio (DPR) is presently 60.84%.

Exelon 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.