Spire Wealth Management Purchases 22,879 Shares of Exelon Corporation (NASDAQ:EXC)

Spire Wealth Management increased its holdings in Exelon Corporation (NASDAQ:EXC - Free Report) by 245.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,210 shares of the company's stock after buying an additional 22,879 shares during the quarter. Spire Wealth Management's holdings in Exelon were worth $1,484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EXC. Norges Bank purchased a new position in shares of Exelon in the fourth quarter worth approximately $479,597,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Exelon by 37.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,618,055 shares of the company's stock worth $1,039,545,000 after buying an additional 7,483,873 shares during the last quarter. FMR LLC boosted its holdings in shares of Exelon by 46.9% in the fourth quarter. FMR LLC now owns 17,306,652 shares of the company's stock worth $651,422,000 after buying an additional 5,524,103 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Exelon by 43.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,846,030 shares of the company's stock worth $483,525,000 after buying an additional 3,878,687 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Exelon by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 127,335,351 shares of the company's stock valued at $4,792,903,000 after purchasing an additional 3,064,673 shares in the last quarter. Hedge funds and other institutional investors own 80.92% of the company's stock.

Analyst Upgrades and Downgrades

EXC has been the topic of several analyst reports. UBS Group reaffirmed a "neutral" rating and set a $48.00 price target (up previously from $46.00) on shares of Exelon in a report on Monday, June 2nd. Guggenheim lifted their price target on shares of Exelon from $47.00 to $50.00 and gave the company a "buy" rating in a report on Friday, May 2nd. KeyCorp downgraded shares of Exelon from a "sector weight" rating to an "underweight" rating and set a $39.00 price target on the stock. in a report on Wednesday, May 14th. BMO Capital Markets lifted 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. Finally, Evercore ISI lifted their price target on shares of Exelon from $48.00 to $51.00 and gave the company an "in-line" rating in a report on Friday, May 2nd. One equities research 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 presently has a consensus rating of "Hold" and an average target price of $47.40.

Exelon Price Performance

Shares of Exelon stock traded up $0.40 on Friday, hitting $42.91. 7,322,596 shares of the company traded hands, compared to its average volume of 7,168,525. The business has a 50-day simple moving average of $44.22 and a 200 day simple moving average of $42.46. Exelon Corporation has a 52 week low of $34.01 and a 52 week high of $48.11. The stock has a market capitalization of $43.32 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 2.44 and a beta of 0.39. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.98 and a current ratio of 1.09.

Exelon (NASDAQ:EXC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.06. Exelon had a net margin of 11.44% and a return on equity of 10.29%. The company had revenue of $6.71 billion for the quarter, compared to analysts' expectations of $6.30 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. Exelon's quarterly revenue was up 11.1% on a year-over-year basis. Research analysts expect that Exelon Corporation will post 2.64 earnings per share for the current fiscal year.

Exelon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 12th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Monday, May 12th. Exelon's dividend payout ratio is presently 59.48%.

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.