Jennison Associates LLC Has $60.97 Million Stake in Exelon Co. (NASDAQ:EXC)

Jennison Associates LLC decreased its holdings in shares of Exelon Co. (NASDAQ:EXC) by 23.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,698,408 shares of the company’s stock after selling 508,054 shares during the quarter. Jennison Associates LLC owned 0.17% of Exelon worth $60,973,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of EXC. IFP Advisors Inc increased its stake in shares of Exelon by 6.1% in the third quarter. IFP Advisors Inc now owns 10,380 shares of the company’s stock valued at $392,000 after buying an additional 597 shares during the period. Capital Investment Advisors LLC acquired a new position in shares of Exelon in the third quarter valued at approximately $200,000. Private Trust Co. NA increased its stake in shares of Exelon by 64.1% in the third quarter. Private Trust Co. NA now owns 13,914 shares of the company’s stock valued at $526,000 after buying an additional 5,434 shares during the period. Strategic Blueprint LLC increased its stake in shares of Exelon by 5.2% in the third quarter. Strategic Blueprint LLC now owns 30,562 shares of the company’s stock valued at $1,155,000 after buying an additional 1,497 shares during the period. Finally, Caprock Group LLC increased its stake in shares of Exelon by 42.7% in the third quarter. Caprock Group LLC now owns 12,772 shares of the company’s stock valued at $483,000 after buying an additional 3,822 shares during the period. Institutional investors and hedge funds own 80.92% of the company’s stock.

Exelon Price Performance

Exelon stock opened at $37.56 on Wednesday. The stock has a market capitalization of $37.54 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.75 and a beta of 0.54. Exelon Co. has a 52-week low of $33.35 and a 52-week high of $43.71. The stock’s 50 day moving average price is $36.56 and its two-hundred day moving average price is $37.10. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.73 and a current ratio of 0.81.

Exelon (NASDAQ:EXC) last issued its earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Exelon had a return on equity of 9.40% and a net margin of 10.72%. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the business earned $0.43 EPS. Exelon’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities analysts predict that Exelon Co. will post 2.41 earnings per share for the current year.

Exelon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a $0.38 dividend. This is a boost from Exelon’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Friday, March 1st. Exelon’s dividend payout ratio (DPR) is currently 65.24%.

Analysts Set New Price Targets

Several research firms have recently issued reports on EXC. Scotiabank lowered their price objective on Exelon from $39.00 to $37.00 and set a “sector perform” rating for the company in a research note on Monday. Mizuho upgraded Exelon from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $39.00 in a report on Wednesday, January 10th. Barclays upped their target price on Exelon from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. TheStreet cut Exelon from a “b-” rating to a “c+” rating in a report on Wednesday, February 7th. Finally, UBS Group cut Exelon from a “buy” rating to a “neutral” rating and reduced their target price for the company from $47.00 to $37.00 in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.92.

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.