Sumitomo Mitsui Asset Management Company LTD decreased its holdings in shares of Exelon Corporation (NYSE:EXC) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,277 shares of the energy giant’s stock after selling 1,519 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Exelon Corporation were worth $2,722,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Heartland Advisors Inc. boosted its position in shares of Exelon Corporation by 3.9% during the 2nd quarter. Heartland Advisors Inc. now owns 373,842 shares of the energy giant’s stock valued at $13,484,000 after purchasing an additional 13,982 shares in the last quarter. Calamos Advisors LLC boosted its position in shares of Exelon Corporation by 667.0% during the 2nd quarter. Calamos Advisors LLC now owns 714,316 shares of the energy giant’s stock valued at $25,765,000 after purchasing an additional 621,188 shares in the last quarter. CI Global Investments Inc. bought a new stake in shares of Exelon Corporation during the 2nd quarter valued at about $136,723,000. Baillie Gifford & Co. boosted its position in shares of Exelon Corporation by 8.0% during the 2nd quarter. Baillie Gifford & Co. now owns 404,952 shares of the energy giant’s stock valued at $14,606,000 after purchasing an additional 29,825 shares in the last quarter. Finally, Prudential PLC boosted its position in shares of Exelon Corporation by 44.3% during the 2nd quarter. Prudential PLC now owns 421,527 shares of the energy giant’s stock valued at $15,204,000 after purchasing an additional 129,368 shares in the last quarter. Institutional investors own 77.28% of the company’s stock.
In other news, EVP Kenneth W. Cornew sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $37.44, for a total value of $936,000.00. Following the sale, the executive vice president now directly owns 28,363 shares of the company’s stock, valued at approximately $1,061,910.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mayo A. Shattuck III sold 34,585 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $40.25, for a total value of $1,392,046.25. Following the completion of the sale, the chairman now directly owns 402,234 shares in the company, valued at $16,189,918.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,212,787 shares of company stock worth $48,570,909. Insiders own 0.70% of the company’s stock.
Exelon Corporation (NYSE:EXC) last issued its quarterly earnings results on Thursday, November 2nd. The energy giant reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Exelon Corporation had a return on equity of 8.47% and a net margin of 5.41%. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be given a $0.3275 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 3.22%. Exelon Corporation’s dividend payout ratio is currently 68.59%.
EXC has been the topic of several research analyst reports. Wolfe Research upgraded Exelon Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Deutsche Bank AG reaffirmed a “buy” rating and set a $41.00 price target on shares of Exelon Corporation in a research note on Monday, July 17th. Citigroup Inc. raised Exelon Corporation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $36.00 to $43.00 in a research note on Thursday, July 27th. BidaskClub raised Exelon Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $44.00 price target (up from $43.00) on shares of Exelon Corporation in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.43.
Exelon Corporation 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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