Exelon Corporation (NASDAQ:EXC) Position Reduced by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in Exelon Corporation by 11.6%, selling 116,441 shares and holding around 0.09% of the company worth about $40.7 million.
• Exelon reported a net margin of 11.44% and earnings per share of $0.92, exceeding the consensus estimate of $0.86, with quarterly revenue rising to $6.71 billion.
• The company announced a quarterly dividend of $0.40 per share, reflecting an annualized yield of 3.61%, with a payout ratio of 59.48%.

TD Asset Management Inc reduced its position in Exelon Corporation (NASDAQ:EXC - Free Report) by 11.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 883,173 shares of the company's stock after selling 116,441 shares during the quarter. TD Asset Management Inc owned approximately 0.09% of Exelon worth $40,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in EXC. Edgestream Partners L.P. lifted its stake in 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 purchasing an additional 150,876 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Exelon by 3.6% in the 1st quarter. Arizona State Retirement System now owns 294,857 shares of the company's stock worth $13,587,000 after purchasing an additional 10,176 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Exelon by 14.9% in the 1st quarter. Cerity Partners LLC now owns 485,968 shares of the company's stock worth $22,393,000 after purchasing an additional 63,009 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Exelon during the 1st quarter valued at $6,795,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Exelon by 141.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 269,101 shares of the company's stock valued at $12,400,000 after buying an additional 157,548 shares during the period. 80.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Guggenheim increased their price target on Exelon from $47.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Evercore ISI raised their price objective on shares of Exelon from $48.00 to $51.00 and gave the stock an "in-line" rating in a research note on Friday, May 2nd. UBS Group reaffirmed a "neutral" rating and set a $48.00 price target (up previously from $47.00) on shares of Exelon in a research note on Friday, July 11th. Wells Fargo & Company lifted their price target on shares of Exelon from $46.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Morgan Stanley lowered their price target on shares of Exelon from $49.00 to $48.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Exelon currently has a consensus rating of "Hold" and a consensus price target of $47.20.

Exelon Trading Down 0.7%

Shares of NASDAQ EXC traded down $0.31 during midday trading on Friday, reaching $44.64. 3,956,907 shares of the stock were exchanged, compared to its average volume of 7,443,084. The company has a market capitalization of $45.06 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.59 and a beta of 0.39. Exelon Corporation has a 52-week low of $35.94 and a 52-week high of $48.11. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 1.66. The stock has a 50 day moving average price of $43.27 and a 200-day moving average price of $43.52.

Exelon (NASDAQ:EXC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Exelon had a net margin of 11.44% and a return on equity of 10.29%. The firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.47 billion. During the same period in the prior year, the company posted $0.47 earnings per share. The firm's quarterly revenue was up 1.2% on a year-over-year basis. Equities research analysts expect that Exelon Corporation will post 2.64 earnings per share for the current fiscal year.

Exelon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, August 11th. Exelon's dividend payout ratio is currently 59.48%.

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.