Exelon Corporation (NASDAQ:EXC) Position Increased by Vestcor Inc

Key Points

• Vestcor Inc increased its stake in Exelon Corporation by 26.3%, acquiring an additional 8,021 shares during the first quarter, bringing its total holdings to 38,546 shares valued at approximately $1.78 million.
• A number of research firms have raised their price targets for Exelon, with Evercore ISI increasing it from $48.00 to $51.00 and BMO Capital Markets from $46.00 to $50.00, leading to a consensus target price of $47.20.
• Exelon Corporation declared a quarterly dividend of $0.40, which will be paid on September 15, representing an annualized yield of 3.6% based on a payout ratio of 59.48%.

Vestcor Inc boosted its stake in Exelon Corporation (NASDAQ:EXC - Free Report) by 26.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,546 shares of the company's stock after acquiring an additional 8,021 shares during the period. Vestcor Inc's holdings in Exelon were worth $1,776,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EXC. Price T Rowe Associates Inc. MD boosted its position in shares of Exelon by 37.2% in the 4th 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Exelon by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 26,314,296 shares of the company's stock valued at $988,080,000 after purchasing an additional 368,505 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Exelon by 2.7% in the fourth quarter. Lazard Asset Management LLC now owns 24,662,037 shares of the company's stock valued at $928,277,000 after purchasing an additional 653,627 shares during the last quarter. FMR LLC increased its stake in shares of Exelon by 46.9% during the 4th quarter. FMR LLC now owns 17,306,652 shares of the company's stock worth $651,422,000 after purchasing an additional 5,524,103 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Exelon by 11.1% during the 4th quarter. Deutsche Bank AG now owns 17,089,308 shares of the company's stock worth $643,242,000 after purchasing an additional 1,706,184 shares during the last quarter. Institutional investors and hedge funds own 80.92% of the company's stock.

Exelon Trading Down 0.6%

Shares of NASDAQ EXC traded down $0.27 during trading on Friday, hitting $44.67. 9,211,262 shares of the company traded hands, compared to its average volume of 5,201,512. Exelon Corporation has a 1 year low of $35.94 and a 1 year high of $48.11. The company has a 50-day moving average price of $43.29 and a 200-day moving average price of $43.60. The firm has a market capitalization of $45.10 billion, a P/E ratio of 16.98, a P/E/G ratio of 2.62 and a beta of 0.38. The company has a quick ratio of 0.98, a current ratio of 0.95 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. Exelon had a return on equity of 9.85% and a net margin of 11.16%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the business earned $0.47 EPS. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts predict 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, August 11th. Exelon's dividend payout ratio (DPR) is currently 59.48%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp dropped their price target on Exelon from $39.00 to $37.00 and set an "underweight" rating for the company in a research report on Wednesday, July 16th. BMO Capital Markets upped their target price on shares of Exelon from $46.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Evercore ISI upped their target price 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. Guggenheim upped their target price on shares of Exelon from $47.00 to $50.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company upped their target price on shares of Exelon from $46.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Exelon currently has an average rating of "Hold" and a consensus 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.