Pier 88 Investment Partners LLC Acquires New Position in Exelon Corporation (EXC)

Pier 88 Investment Partners LLC acquired a new position in shares of Exelon Corporation (NYSE:EXC) during the second quarter, Holdings Channel reports. The firm acquired 129,323 shares of the energy giant’s stock, valued at approximately $4,665,000. Exelon Corporation comprises approximately 1.9% of Pier 88 Investment Partners LLC’s investment portfolio, making the stock its 22nd largest position.

Other institutional investors also recently added to or reduced their stakes in the company. Live Your Vision LLC raised its position in Exelon Corporation by 0.9% in the first quarter. Live Your Vision LLC now owns 2,951 shares of the energy giant’s stock worth $106,000 after buying an additional 27 shares during the last quarter. Assetmark Inc. boosted its stake in Exelon Corporation by 703.5% in the first quarter. Assetmark Inc. now owns 2,981 shares of the energy giant’s stock worth $107,000 after buying an additional 2,610 shares during the period. V Wealth Management LLC acquired a new stake in Exelon Corporation during the second quarter worth approximately $111,000. Hudock Capital Group LLC boosted its stake in Exelon Corporation by 8.1% in the first quarter. Hudock Capital Group LLC now owns 3,193 shares of the energy giant’s stock worth $114,000 after buying an additional 240 shares during the period. Finally, Jacobi Capital Management LLC boosted its stake in Exelon Corporation by 12.3% in the first quarter. Jacobi Capital Management LLC now owns 3,388 shares of the energy giant’s stock worth $122,000 after buying an additional 372 shares during the period. Institutional investors and hedge funds own 74.91% of the company’s stock.

Exelon Corporation (NYSE:EXC) traded up 2.69% on Monday, reaching $37.03. 7,359,873 shares of the company traded hands. The company has a 50-day moving average price of $36.06 and a 200-day moving average price of $35.67. The company has a market capitalization of $34.29 billion, a P/E ratio of 17.62 and a beta of 0.26. Exelon Corporation has a 12 month low of $29.82 and a 12 month high of $37.70.

Exelon Corporation (NYSE:EXC) last issued its quarterly earnings data on Wednesday, May 3rd. The energy giant reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.69 billion. Exelon Corporation had a net margin of 6.10% and a return on equity of 9.00%. Exelon Corporation’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. Equities research analysts expect that Exelon Corporation will post $2.67 EPS for the current year.

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Several equities research analysts recently issued reports on the company. Wolfe Research upgraded Exelon Corporation from a “market perform” rating to an “outperform” rating in a report on Monday. UBS AG upgraded Exelon Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $37.50 in a report on Monday, May 15th. BidaskClub upgraded Exelon Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Credit Suisse Group reiterated a “buy” rating and issued a $42.00 price objective on shares of Exelon Corporation in a report on Tuesday, May 30th. Finally, ValuEngine cut Exelon Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $38.86.

In other Exelon Corporation news, Chairman Mayo A. Shattuck III sold 465,892 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $36.52, for a total transaction of $17,014,375.84. Following the sale, the chairman now directly owns 567,649 shares in the company, valued at approximately $20,730,541.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Rogers, Jr. purchased 3,000 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were bought at an average price of $33.57 per share, for a total transaction of $100,710.00. Following the completion of 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. Company insiders own 0.70% of the company’s stock.

Exelon Corporation Company Profile

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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Institutional Ownership by Quarter for Exelon Corporation (NYSE:EXC)

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