TD Asset Management Inc Acquires 236,224 Shares of Exelon Corporation $EXC

Key Points

• TD Asset Management Inc increased its holdings in Exelon Corporation by 26.7%, acquiring an additional 236,224 shares, bringing its total to 1,119,397 shares, valued at approximately $48.6 million.
• Analysts have set a consensus target price of $50.10 for Exelon, with ratings that include six Buy, four Hold, and one Sell.
• Exelon recently announced a quarterly dividend of $0.40 per share, representing an annualized yield of 3.3% and a payout ratio of 60.84%.

TD Asset Management Inc increased its holdings in shares of Exelon Corporation (NASDAQ:EXC - Free Report) by 26.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,119,397 shares of the company's stock after acquiring an additional 236,224 shares during the period. TD Asset Management Inc owned about 0.11% of Exelon worth $48,604,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Edgestream Partners L.P. increased its position in shares of Exelon by 354.9% during the first quarter. Edgestream Partners L.P. now owns 193,388 shares of the company's stock worth $8,911,000 after acquiring an additional 150,876 shares during the period. Arizona State Retirement System increased its position in shares of Exelon by 3.6% during the first quarter. Arizona State Retirement System now owns 294,857 shares of the company's stock worth $13,587,000 after acquiring an additional 10,176 shares during the period. Cerity Partners LLC increased its position in shares of Exelon by 14.9% during the first quarter. Cerity Partners LLC now owns 485,968 shares of the company's stock worth $22,393,000 after acquiring an additional 63,009 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of Exelon during the first quarter worth approximately $47,789,000. Finally, Intech Investment Management LLC increased its position in shares of Exelon by 24.6% during the first quarter. Intech Investment Management LLC now owns 44,576 shares of the company's stock worth $2,054,000 after acquiring an additional 8,809 shares during the period. 80.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on EXC. UBS Group raised their target price on shares of Exelon from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Friday, October 10th. Morgan Stanley dropped their target price on shares of Exelon from $50.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Jefferies Financial Group set a $57.00 target price on shares of Exelon in a report on Wednesday. Evercore ISI started coverage on shares of Exelon in a report on Monday, October 6th. They set an "outperform" rating and a $57.00 target price on the stock. Finally, KeyCorp increased their target price on shares of Exelon from $37.00 to $42.00 and gave the stock an "underweight" rating in a report on Wednesday. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $50.10.

Exelon Stock Up 0.9%

Shares of EXC stock opened at $47.83 on Thursday. The stock's fifty day moving average price is $44.55 and its 200 day moving average price is $44.39. Exelon Corporation has a 1-year low of $35.94 and a 1-year high of $48.11. The company has a market cap of $48.31 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 2.93 and a beta of 0.40. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.85.

Exelon (NASDAQ:EXC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.39 EPS for the quarter, beating 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 analysts' expectations of $5.47 billion. During the same period last year, the business posted $0.47 earnings per share. The firm's revenue was up 1.2% compared to the same quarter last year. Exelon has set its FY 2025 guidance at 2.640-2.740 EPS. On average, research analysts expect that Exelon Corporation will post 2.64 earnings per share for the current fiscal year.

Exelon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, August 11th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 11th. Exelon's payout ratio is currently 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.

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