Tokio Marine Asset Management Co. Ltd. cut its stake in shares of Exelon Corp. (NYSE:EXC) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 26,569 shares of the energy giant’s stock after selling 1,411 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Exelon Corp. were worth $966,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. boosted its position in Exelon Corp. by 2.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 57,011 shares of the energy giant’s stock valued at $2,044,000 after buying an additional 1,100 shares in the last quarter. Ngam Advisors L.P. boosted its position in Exelon Corp. by 33.7% in the first quarter. Ngam Advisors L.P. now owns 79,145 shares of the energy giant’s stock valued at $2,839,000 after buying an additional 19,929 shares in the last quarter. Teachers Advisors Inc. boosted its position in Exelon Corp. by 10.3% in the first quarter. Teachers Advisors Inc. now owns 1,302,285 shares of the energy giant’s stock valued at $46,700,000 after buying an additional 121,157 shares in the last quarter. FDO Partners LLC boosted its position in Exelon Corp. by 31.5% in the first quarter. FDO Partners LLC now owns 10,513 shares of the energy giant’s stock valued at $377,000 after buying an additional 2,518 shares in the last quarter. Finally, Sentry Investment Management LLC boosted its position in Exelon Corp. by 5.1% in the first quarter. Sentry Investment Management LLC now owns 71,720 shares of the energy giant’s stock valued at $2,572,000 after buying an additional 3,450 shares in the last quarter. 74.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Exelon Corp. (NYSE:EXC) traded up 0.85% during trading on Wednesday, hitting $32.13. 7,851,680 shares of the stock were exchanged. The firm has a market capitalization of $29.65 billion, a price-to-earnings ratio of 21.51 and a beta of 0.25. Exelon Corp. has a 52 week low of $25.09 and a 52 week high of $37.70. The stock’s 50 day moving average price is $33.98 and its 200 day moving average price is $34.91.
Exelon Corp. (NYSE:EXC) last posted its earnings results on Tuesday, August 9th. The energy giant reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.09. Exelon Corp. had a net margin of 4.58% and a return on equity of 8.52%. The business had revenue of $6.90 billion for the quarter, compared to analysts’ expectations of $7.30 billion. During the same period in the prior year, the company posted $0.59 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Exelon Corp. will post $2.56 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 15th were paid a $0.318 dividend. This represents a $1.27 annualized dividend and a yield of 3.96%. The ex-dividend date was Thursday, August 11th. Exelon Corp.’s dividend payout ratio is presently 84.67%.
Several research analysts have recently commented on the stock. Zacks Investment Research cut shares of Exelon Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Citigroup Inc. raised their target price on shares of Exelon Corp. from $27.00 to $29.00 and gave the stock a “sell” rating in a report on Wednesday, July 20th. Deutsche Bank AG raised shares of Exelon Corp. from a “hold” rating to a “buy” rating and raised their target price for the stock from $36.00 to $39.00 in a report on Friday, July 22nd. Bank of America Corp. reaffirmed a “hold” rating and set a $37.00 target price on shares of Exelon Corp. in a report on Thursday, August 11th. Finally, Morgan Stanley set a $38.00 target price on shares of Exelon Corp. and gave the stock a “hold” rating in a report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. Exelon Corp. currently has an average rating of “Hold” and a consensus target price of $36.23.
In other Exelon Corp. news, CEO Calvin Butler, Jr. sold 6,403 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $35.00, for a total value of $224,105.00. Following the sale, the chief executive officer now directly owns 18,109 shares in the company, valued at approximately $633,815. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kenneth W. Cornew sold 30,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 32,844 shares in the company, valued at $1,197,820.68. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.
About Exelon Corp.
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).
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