Meeder Asset Management Inc. cut its position in Exelon Corporation (NYSE:EXC) by 5.5% during the first quarter, Holdings Channel reports. The firm owned 159,434 shares of the energy giant’s stock after selling 9,202 shares during the period. Meeder Asset Management Inc.’s holdings in Exelon Corporation were worth $5,736,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Exelon Corporation during the fourth quarter worth approximately $295,370,000. Wells Fargo & Company MN increased its position in Exelon Corporation by 91.4% in the first quarter. Wells Fargo & Company MN now owns 7,854,768 shares of the energy giant’s stock worth $282,615,000 after buying an additional 3,749,880 shares during the period. Energy Income Partners LLC purchased a new position in Exelon Corporation during the fourth quarter worth approximately $79,667,000. FMR LLC increased its position in Exelon Corporation by 4.4% in the first quarter. FMR LLC now owns 48,274,820 shares of the energy giant’s stock worth $1,736,928,000 after buying an additional 2,041,157 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in Exelon Corporation by 107.2% in the first quarter. Canada Pension Plan Investment Board now owns 2,930,063 shares of the energy giant’s stock worth $105,424,000 after buying an additional 1,515,767 shares during the period. Institutional investors own 75.93% of the company’s stock.
Exelon Corporation (NYSE:EXC) opened at 36.76 on Wednesday. The stock has a 50 day moving average price of $35.57 and a 200 day moving average price of $35.55. Exelon Corporation has a 12 month low of $29.82 and a 12 month high of $37.70. The firm has a market cap of $34.04 billion, a price-to-earnings ratio of 17.50 and a beta of 0.26.
Exelon Corporation (NYSE:EXC) last posted its quarterly earnings data on Wednesday, May 3rd. The energy giant reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. Exelon Corporation had a return on equity of 9.00% and a net margin of 6.10%. The business had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.69 billion. During the same quarter in the previous year, the firm earned $0.68 EPS. The firm’s revenue was up 15.6% compared to the same quarter last year. On average, equities analysts expect that Exelon Corporation will post $2.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Monday, May 15th were given a dividend of $0.3275 per share. The ex-dividend date was Thursday, May 11th. This represents a $1.31 annualized dividend and a dividend yield of 3.56%. Exelon Corporation’s dividend payout ratio is presently 62.09%.
A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $40.00 target price on shares of Exelon Corporation in a research note on Friday, March 17th. Barclays PLC reiterated an “overweight” rating and issued a $43.00 target price (up previously from $40.00) on shares of Exelon Corporation in a research note on Sunday, April 23rd. Wells Fargo & Company lowered Exelon Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 5th. BMO Capital Markets reiterated a “hold” rating and issued a $37.00 target price on shares of Exelon Corporation in a research note on Thursday, May 4th. Finally, Citigroup Inc. increased their target price on Exelon Corporation from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, April 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $38.96.
In related news, EVP Paymon Aliabadi sold 13,333 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $37.05, for a total transaction of $493,987.65. Following the completion of the transaction, the executive vice president now owns 53,102 shares of the company’s stock, valued at approximately $1,967,429.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Rogers, Jr. acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average cost of $33.57 per share, with a total value of $100,710.00. Following the transaction, the director now directly owns 14,374 shares in the company, valued at approximately $482,535.18. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by insiders.
About Exelon Corporation
Exelon Corporation is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. The Company, through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), is engaged in the energy delivery businesses.
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