United Fire Group Inc. bought a new position in shares of Exelon Corporation (NYSE:EXC) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,723 shares of the energy giant’s stock, valued at approximately $206,000.
A number of other large investors also recently made changes to their positions in the stock. Chesley Taft & Associates LLC boosted its stake in shares of Exelon Corporation by 0.6% in the first quarter. Chesley Taft & Associates LLC now owns 5,880 shares of the energy giant’s stock worth $212,000 after buying an additional 37 shares during the period. National Pension Service boosted its stake in shares of Exelon Corporation by 4.8% in the first quarter. National Pension Service now owns 720,059 shares of the energy giant’s stock worth $25,706,000 after buying an additional 32,912 shares during the period. Pennsylvania Trust Co boosted its stake in shares of Exelon Corporation by 0.8% in the first quarter. Pennsylvania Trust Co now owns 20,950 shares of the energy giant’s stock worth $754,000 after buying an additional 160 shares during the period. Bank of Montreal Can boosted its stake in shares of Exelon Corporation by 27.7% in the first quarter. Bank of Montreal Can now owns 2,491,792 shares of the energy giant’s stock worth $89,654,000 after buying an additional 540,266 shares during the period. Finally, Gradient Investments LLC boosted its stake in shares of Exelon Corporation by 0.7% in the first quarter. Gradient Investments LLC now owns 10,009 shares of the energy giant’s stock worth $360,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 74.81% of the company’s stock.
Exelon Corporation (EXC) opened at 37.74 on Friday. The company has a 50 day moving average price of $37.03 and a 200 day moving average price of $36.01. Exelon Corporation has a 12 month low of $29.82 and a 12 month high of $38.78. The stock has a market capitalization of $36.23 billion, a price-to-earnings ratio of 19.96 and a beta of 0.27.
Exelon Corporation (NYSE:EXC) last posted its quarterly earnings results on Wednesday, August 2nd. The energy giant reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. Exelon Corporation had a net margin of 5.41% and a return on equity of 8.47%. The business had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the previous year, the company posted $0.65 EPS. Exelon Corporation’s revenue was up 10.3% on a year-over-year basis. Equities research analysts predict that Exelon Corporation will post $2.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Friday, August 11th. Exelon Corporation’s dividend payout ratio is currently 68.59%.
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EXC has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $39.50 target price on shares of Exelon Corporation in a report on Thursday, April 20th. Barclays PLC reiterated an “overweight” rating and set a $43.00 target price (up previously from $40.00) on shares of Exelon Corporation in a report on Sunday, April 23rd. BMO Capital Markets reiterated a “hold” rating and set a $37.00 target price on shares of Exelon Corporation in a report on Thursday, May 4th. UBS AG upgraded Exelon Corporation from a “neutral” rating to a “buy” rating and increased their target price for the company from $36.00 to $37.50 in a report on Monday, May 15th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $42.00 target price on shares of Exelon Corporation in a report on Tuesday, May 30th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.71.
In other news, insider Denis P. O’brien sold 30,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $38.50, for a total transaction of $1,155,000.00. Following the transaction, the insider now directly owns 57,243 shares in the company, valued at approximately $2,203,855.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mayo A. Shattuck III sold 465,892 shares of the business’s stock in a transaction on 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 transaction, the chairman now owns 567,649 shares in the company, valued at $20,730,541.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 927,844 shares of company stock worth $34,570,885. 0.70% of the stock is currently owned by corporate 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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