Pzena Investment Management LLC Decreases Stake in Exelon Corp. (EXC)
Pzena Investment Management LLC cut its stake in shares of Exelon Corp. (NYSE:EXC) by 20.3% during the third quarter, Holdings Channel reports. The institutional investor owned 487,151 shares of the energy giant’s stock after selling 123,825 shares during the period. Pzena Investment Management LLC’s holdings in Exelon Corp. were worth $16,217,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Exelon Corp. by 208.0% in the third quarter. JPMorgan Chase & Co. now owns 4,531,848 shares of the energy giant’s stock valued at $150,865,000 after buying an additional 3,060,506 shares in the last quarter. Nicolet Bankshares Inc. boosted its position in Exelon Corp. by 14.1% in the third quarter. Nicolet Bankshares Inc. now owns 6,466 shares of the energy giant’s stock valued at $215,000 after buying an additional 800 shares in the last quarter. Sei Investments Co. boosted its position in Exelon Corp. by 12.9% in the third quarter. Sei Investments Co. now owns 364,864 shares of the energy giant’s stock valued at $12,147,000 after buying an additional 41,629 shares in the last quarter. US Bancorp DE boosted its position in Exelon Corp. by 0.3% in the third quarter. US Bancorp DE now owns 214,056 shares of the energy giant’s stock valued at $7,125,000 after buying an additional 677 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Exelon Corp. by 4.4% in the third quarter. UBS Asset Management Americas Inc. now owns 3,356,712 shares of the energy giant’s stock valued at $111,743,000 after buying an additional 141,245 shares in the last quarter. 73.92% of the stock is currently owned by hedge funds and other institutional investors.
Exelon Corp. (NYSE:EXC) traded up 0.644% during trading on Tuesday, hitting $33.605. 2,931,179 shares of the stock traded hands. Exelon Corp. has a 12 month low of $25.09 and a 12 month high of $37.70. The company has a 50-day moving average price of $32.51 and a 200-day moving average price of $34.26. The stock has a market cap of $31.03 billion, a PE ratio of 25.191 and a beta of 0.21.
Exelon Corp. (NYSE:EXC) last posted its earnings results on Wednesday, October 26th. The energy giant reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.13. The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $7.97 billion. Exelon Corp. had a net margin of 3.88% and a return on equity of 8.81%. Exelon Corp.’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 EPS. Equities research analysts expect that Exelon Corp. will post $2.66 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th will be paid a $0.318 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.27 dividend on an annualized basis and a yield of 3.81%. Exelon Corp.’s dividend payout ratio is presently 94.78%.
Several research analysts have recently commented on the stock. Morgan Stanley raised shares of Exelon Corp. from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $27.00 to $37.00 in a report on Friday, November 18th. They noted that the move was a valuation call. Jefferies Group reaffirmed a “buy” rating and set a $37.00 target price (up from $36.00) on shares of Exelon Corp. in a report on Friday, October 28th. Deutsche Bank AG reaffirmed a “buy” rating and set a $38.00 target price on shares of Exelon Corp. in a report on Friday, October 21st. Barclays PLC lowered their target price on shares of Exelon Corp. from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, August 31st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Exelon Corp. from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.92.
In other Exelon Corp. news, CEO Calvin Butler, Jr. sold 6,403 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $35.00, for a total value of $224,105.00. Following the completion of the transaction, the chief executive officer now owns 18,109 shares of the company’s stock, valued at approximately $633,815. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.80% of the stock is currently owned by company insiders.
Exelon Corp. Company Profile
Exelon Corporation is a utility services holding company. The Company operates through nine segments consisting of Exelon Generation Company, LLC’s (Generation’s) six power marketing segments, including Mid-Atlantic, Midwest, New England, New York, ERCOT and other regions; Commonwealth Edison Company (ComEd); PECO Energy Company (PECO), and Baltimore Gas and Electric Company (BGE).
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