RWC Asset Management LLP Has $92.08 Million Position in Exelon Corporation (NASDAQ:EXC)

Key Points

• RWC Asset Management LLP has reduced its holdings in Exelon Corporation (NASDAQ:EXC) by 14.1%, now owning approximately 1,998,147 shares valued at about $92.08 million, making Exelon its second-largest holding.
• Exelon reported quarterly earnings of $0.92 per share, exceeding analysts' estimates of $0.86, alongside a revenue of $6.71 billion, marking an 11.1% increase year-over-year.
• The company recently announced a quarterly dividend of $0.40 per share, which reflects an annualized dividend of $1.60 and a yield of 3.64%.

RWC Asset Management LLP lessened its stake in Exelon Corporation (NASDAQ:EXC - Free Report) by 14.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,998,147 shares of the company's stock after selling 328,696 shares during the quarter. Exelon comprises approximately 4.7% of RWC Asset Management LLP's investment portfolio, making the stock its 2nd biggest holding. RWC Asset Management LLP owned approximately 0.20% of Exelon worth $92,075,000 as of its most recent SEC filing.

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

Exelon Stock Down 1.3%

Shares of NASDAQ:EXC traded down $0.58 during midday trading on Monday, reaching $43.41. The company had a trading volume of 5,928,574 shares, compared to its average volume of 4,886,481. 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 business's 50 day moving average price is $43.25 and its 200 day moving average price is $43.41. The stock has a market cap of $43.82 billion, a PE ratio of 16.06, a P/E/G ratio of 2.58 and a beta of 0.39. Exelon Corporation has a 1-year low of $35.94 and a 1-year high of $48.11.

Exelon (NASDAQ:EXC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.06. Exelon had a return on equity of 10.29% and a net margin of 11.44%. The business had revenue of $6.71 billion during the quarter, compared to analysts' expectations of $6.30 billion. During the same quarter last year, the company posted $0.68 earnings per share. Exelon's quarterly revenue was up 11.1% on a year-over-year basis. Research analysts forecast 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 was paid on Friday, June 13th. Stockholders of record on Monday, May 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Monday, May 12th. Exelon's dividend payout ratio is presently 59.48%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of Exelon from $46.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Morgan Stanley dropped their price objective on Exelon from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. 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 note on Friday, May 2nd. Guggenheim raised their price objective on Exelon from $47.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, KeyCorp dropped their price objective on Exelon from $39.00 to $37.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Exelon presently has an average rating of "Hold" and an average target price of $47.20.

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.