First Midwest Bank Trust Division increased its stake in shares of Exelon Corp. (NYSE:EXC) by 33.6% during the second quarter, Holdings Channel reports. The institutional investor owned 33,986 shares of the energy giant’s stock after buying an additional 8,539 shares during the period. First Midwest Bank Trust Division’s holdings in Exelon Corp. were worth $1,236,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in EXC. First Manhattan Co. raised its position in Exelon Corp. by 5.4% in the second quarter. First Manhattan Co. now owns 2,853 shares of the energy giant’s stock worth $103,000 after buying an additional 147 shares in the last quarter. CT Financial Advisors LLC raised its position in Exelon Corp. by 0.3% in the second quarter. CT Financial Advisors LLC now owns 4,096 shares of the energy giant’s stock worth $149,000 after buying an additional 11 shares in the last quarter. JNBA Financial Advisors raised its position in Exelon Corp. by 22.2% in the second quarter. JNBA Financial Advisors now owns 4,408 shares of the energy giant’s stock worth $160,000 after buying an additional 800 shares in the last quarter. HL Financial Services LLC acquired a new position in Exelon Corp. during the second quarter worth approximately $204,000. Finally, Tufton Capital Management acquired a new position in Exelon Corp. during the second quarter worth approximately $206,000. 74.90% of the stock is currently owned by institutional investors and hedge funds.
Exelon Corp. (NYSE:EXC) remained flat at $33.29 on Friday. The stock had a trading volume of 5,529,887 shares. The stock has a 50 day moving average price of $34.18 and a 200-day moving average price of $34.96. The company has a market capitalization of $30.72 billion, a PE ratio of 22.28 and a beta of 0.24. Exelon Corp. has a 52-week low of $25.09 and a 52-week high of $37.70.
Exelon Corp. (NYSE:EXC) last released its quarterly earnings data on Tuesday, August 9th. The energy giant reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.09. Exelon Corp. had a return on equity of 8.52% and a net margin of 4.58%. The company had revenue of $6.90 billion for the quarter, compared to the consensus estimate of $7.30 billion. During the same quarter last year, the business posted $0.59 EPS. Exelon Corp.’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts expect that Exelon Corp. will post $2.56 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 15th were given a dividend of $0.318 per share. This represents a $1.27 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, August 11th. Exelon Corp.’s dividend payout ratio is currently 84.67%.
A number of equities analysts have commented on EXC shares. Jefferies Group reissued a “buy” rating and issued a $40.00 price objective on shares of Exelon Corp. in a research note on Friday, August 12th. Deutsche Bank AG raised Exelon Corp. from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $39.00 in a research note on Friday, July 22nd. Bank of America Corp. reissued a “hold” rating and issued a $37.00 price objective on shares of Exelon Corp. in a research note on Thursday, August 11th. Zacks Investment Research raised Exelon Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Finally, Morgan Stanley set a $38.00 price objective on Exelon Corp. and gave the stock a “hold” rating in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $36.23.
In related news, CEO Kenneth W. Cornew sold 30,000 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $36.47, for a total transaction of $1,094,100.00. Following the completion of the transaction, the chief executive officer now directly owns 32,844 shares of the company’s stock, valued at approximately $1,197,820.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Calvin Butler, Jr. sold 6,403 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $35.00, for a total value of $224,105.00. Following the transaction, the chief executive officer now directly owns 18,109 shares of the company’s stock, valued at $633,815. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
Exelon Corp. Company Profile
Exelon Corporation is a utility services holding company. The Company operates through nine segments consisting of Exelon Generation Company, LLC’s (Generation’s) six power marketing segments, including Mid-Atlantic, Midwest, New England, New York, ERCOT and other regions; Commonwealth Edison Company (ComEd); PECO Energy Company (PECO), and Baltimore Gas and Electric Company (BGE).
Want to see what other hedge funds are holding EXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelon Corp. (NYSE:EXC).
Receive News & Ratings for Exelon Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelon Corp. and related companies with MarketBeat.com's FREE daily email newsletter.