Exelon Corp. (EXC) Stake Lowered by GAM Holding AG
GAM Holding AG decreased its stake in Exelon Corp. (NYSE:EXC) by 19.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 207,127 shares of the energy giant’s stock after selling 51,331 shares during the period. GAM Holding AG’s holdings in Exelon Corp. were worth $6,895,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Panagora Asset Management Inc. increased its position in shares of Exelon Corp. by 26.6% in the first quarter. Panagora Asset Management Inc. now owns 114,994 shares of the energy giant’s stock valued at $4,124,000 after buying an additional 24,164 shares in the last quarter. First Republic Investment Management Inc. increased its stake in Exelon Corp. by 43.8% in the first quarter. First Republic Investment Management Inc. now owns 23,898 shares of the energy giant’s stock valued at $856,000 after buying an additional 7,282 shares during the period. Boothbay Fund Management LLC purchased a new stake in Exelon Corp. during the first quarter valued at about $291,000. CT Financial Advisors LLC increased its stake in Exelon Corp. by 0.3% in the second quarter. CT Financial Advisors LLC now owns 4,096 shares of the energy giant’s stock valued at $149,000 after buying an additional 11 shares during the period. Finally, Raymond James Trust N.A. increased its stake in Exelon Corp. by 1.1% in the second quarter. Raymond James Trust N.A. now owns 28,439 shares of the energy giant’s stock valued at $1,034,000 after buying an additional 308 shares during the period. Institutional investors own 73.92% of the company’s stock.
Shares of Exelon Corp. (NYSE:EXC) traded down 3.06% during trading on Wednesday, reaching $32.63. The company’s stock had a trading volume of 4,572,762 shares. The stock’s 50-day moving average is $32.51 and its 200-day moving average is $34.26. Exelon Corp. has a 12-month low of $25.09 and a 12-month high of $37.70. The stock has a market cap of $30.13 billion, a P/E ratio of 24.46 and a beta of 0.21.
Exelon Corp. (NYSE:EXC) last released its earnings results on Wednesday, October 26th. The energy giant reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.13. Exelon Corp. had a return on equity of 8.81% and a net margin of 3.88%. The business earned $8.84 billion during the quarter, compared to the consensus estimate of $7.97 billion. During the same period last year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. Equities research analysts anticipate that Exelon Corp. will post $2.66 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Tuesday, November 15th will be issued a $0.318 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Thursday, November 10th. Exelon Corp.’s payout ratio is currently 94.78%.
EXC has been the subject of several recent research reports. Morgan Stanley upgraded Exelon Corp. from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $27.00 to $37.00 in a research note on Friday, November 18th. They noted that the move was a valuation call. Barclays PLC reduced their price target on Exelon Corp. from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, August 31st. Jefferies Group restated a “buy” rating and issued a $36.00 price target (down from $40.00) on shares of Exelon Corp. in a research note on Monday, October 10th. Deutsche Bank AG restated a “buy” rating and issued a $38.00 price target on shares of Exelon Corp. in a research note on Friday, October 21st. Finally, Bank of America Corp. restated a “hold” rating and issued a $37.00 price target on shares of Exelon Corp. in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Exelon Corp. presently has a consensus rating of “Buy” and an average target price of $36.92.
In other news, CEO Calvin Butler, Jr. sold 6,403 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was 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 directly owns 18,109 shares of the company’s stock, valued at $633,815. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is owned by insiders.
About Exelon Corp.
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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