Magellan Asset Management Ltd Sells 32,270 Shares of Exelon Corporation (NASDAQ:EXC)

Key Points

• Magellan Asset Management Ltd has decreased its stake in Exelon Corporation by 4.2%, holding 727,185 shares valued at approximately $33.5 million after selling 32,270 shares.
• Several institutional investors, including Vanguard Group and Deutsche Bank, have increased their stakes in Exelon, indicating ongoing investor interest despite fluctuations in stock value.
• Exelon reported a quarterly EPS of $0.39, surpassing estimates, while also announcing a quarterly dividend of $0.40 per share, reflecting a 3.5% yield.

Magellan Asset Management Ltd lowered its position in shares of Exelon Corporation (NASDAQ:EXC - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 727,185 shares of the company's stock after selling 32,270 shares during the quarter. Magellan Asset Management Ltd owned 0.07% of Exelon worth $33,509,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in shares of Exelon in the 4th quarter valued at $25,000. Hazlett Burt & Watson Inc. boosted its position in shares of 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 purchasing an additional 220 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in shares of Exelon in the 1st quarter valued at $34,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Exelon in the 1st quarter valued at $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Exelon in the 1st quarter valued at $50,000. Institutional investors own 80.92% of the company's stock.

Exelon Stock Down 1.3%

Shares of EXC traded down $0.61 during midday trading on Monday, reaching $44.71. 4,396,355 shares of the stock were exchanged, compared to its average volume of 6,018,795. Exelon Corporation has a 12-month low of $35.94 and a 12-month high of $48.11. The firm has a 50 day simple moving average of $43.46 and a 200-day simple moving average of $43.87. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.66. The company has a market cap of $45.16 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 2.66 and a beta of 0.38.

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

Exelon Dividend Announcement

The business 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 11th. Exelon's dividend payout ratio (DPR) is presently 60.84%.

Analysts Set New Price Targets

EXC has been the subject of a number of research reports. BMO Capital Markets raised their price objective on Exelon from $46.00 to $50.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Evercore ISI raised their price objective on Exelon from $48.00 to $51.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. UBS Group restated a "neutral" rating and set a $48.00 price objective (up from $47.00) on shares of Exelon in a research report on Friday, July 11th. Wells Fargo & Company raised their price objective on Exelon from $46.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley decreased their price objective on Exelon from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $47.20.

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.