Wellington Management Group LLP Cuts Position in Exelon Corporation $EXC

Key Points

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Wellington Management Group LLP trimmed its position in shares of Exelon Corporation (NASDAQ:EXC - Free Report) by 43.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,609,501 shares of the company's stock after selling 14,846,413 shares during the period. Wellington Management Group LLP owned about 1.94% of Exelon worth $903,606,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EXC. Mariner LLC increased its stake in shares of Exelon by 17.7% during the fourth quarter. Mariner LLC now owns 138,213 shares of the company's stock worth $5,202,000 after buying an additional 20,824 shares during the period. XTX Topco Ltd increased its stake in Exelon by 144.3% in the fourth quarter. XTX Topco Ltd now owns 12,273 shares of the company's stock valued at $462,000 after purchasing an additional 7,250 shares during the last quarter. NewEdge Advisors LLC increased its stake in Exelon by 25.7% in the fourth quarter. NewEdge Advisors LLC now owns 39,067 shares of the company's stock valued at $1,470,000 after purchasing an additional 7,984 shares during the last quarter. Commerce Bank increased its stake in Exelon by 1.2% in the fourth quarter. Commerce Bank now owns 49,895 shares of the company's stock valued at $1,878,000 after purchasing an additional 605 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Exelon by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,343,943 shares of the company's stock valued at $125,866,000 after purchasing an additional 34,219 shares during the last quarter. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Exelon Price Performance

Shares of NASDAQ EXC opened at $44.00 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.85. The stock has a fifty day moving average price of $43.64 and a 200 day moving average price of $44.03. 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 $44.44 billion, a PE ratio of 16.73, a P/E/G ratio of 2.61 and a beta of 0.38.

Exelon (NASDAQ:EXC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.39 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.47 billion. During the same period last year, the company earned $0.47 earnings per share. The company's revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts forecast that Exelon Corporation will post 2.64 EPS for the current year.

Exelon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 11th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.60 dividend on an annualized basis and a yield of 3.6%. Exelon's dividend payout ratio (DPR) is 60.84%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI increased their price target on shares of Exelon from $48.00 to $51.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. KeyCorp dropped their price target on shares of Exelon from $39.00 to $37.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 16th. UBS Group reiterated a "neutral" rating and issued a $48.00 price target (up from $47.00) on shares of Exelon in a research note on Friday, July 11th. Morgan Stanley lowered their target price on shares of Exelon from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company raised their target price on shares of Exelon from $46.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $47.20.

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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