New York State Common Retirement Fund reduced its position in shares of Exelon Co. (NASDAQ:EXC - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,677,263 shares of the company's stock after selling 33,681 shares during the period. New York State Common Retirement Fund owned 0.17% of Exelon worth $60,214,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Exelon by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,676,744 shares of the company's stock worth $819,164,000 after purchasing an additional 286,435 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Exelon by 0.6% during the 3rd quarter. Legal & General Group Plc now owns 12,644,485 shares of the company's stock worth $477,837,000 after purchasing an additional 78,316 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Exelon by 3.5% during the 3rd quarter. Northern Trust Corp now owns 11,665,829 shares of the company's stock worth $440,852,000 after acquiring an additional 395,908 shares during the period. Invesco Ltd. lifted its holdings in shares of Exelon by 12.2% during the 3rd quarter. Invesco Ltd. now owns 10,069,810 shares of the company's stock worth $380,538,000 after acquiring an additional 1,092,736 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Exelon by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,744,354 shares of the company's stock worth $217,079,000 after acquiring an additional 103,479 shares during the period. 80.92% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on EXC. StockNews.com upgraded shares of Exelon from a "sell" rating to a "hold" rating in a report on Monday, March 25th. Seaport Res Ptn lowered shares of Exelon from a "buy" rating to a "neutral" rating in a report on Monday, January 8th. Scotiabank cut their price objective on shares of Exelon from $39.00 to $37.00 and set a "sector perform" rating on the stock in a report on Monday. Bank of America cut their price target on shares of Exelon from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, January 19th. Finally, Mizuho upgraded shares of Exelon from a "neutral" rating to a "buy" rating and raised their price target for the company from $36.00 to $39.00 in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Exelon presently has an average rating of "Hold" and a consensus target price of $38.92.
Read Our Latest Stock Analysis on EXC
Exelon Stock Up 0.6 %
Shares of EXC traded up $0.21 during mid-day trading on Wednesday, reaching $37.77. 5,060,992 shares of the stock traded hands, compared to its average volume of 6,643,278. Exelon Co. has a 12-month low of $33.35 and a 12-month high of $43.71. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The firm has a market cap of $37.75 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 2.75 and a beta of 0.54. The stock has a fifty day simple moving average of $36.56 and a 200 day simple moving average of $37.10.
Exelon (NASDAQ:EXC - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Exelon had a net margin of 10.72% and a return on equity of 9.40%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter last year, the company earned $0.43 earnings per share. The business's quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts expect that Exelon Co. will post 2.41 EPS for the current fiscal year.
Exelon Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a dividend of $0.38 per share. The ex-dividend date was Friday, March 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.02%. This is an increase from Exelon's previous quarterly dividend of $0.36. Exelon's dividend payout ratio (DPR) is presently 65.24%.
About Exelon
(
Free Report)
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.
Further Reading
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