State Board of Administration of Florida Retirement System Raises Position in Exelon Corporation (EXC)
State Board of Administration of Florida Retirement System boosted its position in shares of Exelon Corporation (NYSE:EXC) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,316,824 shares of the energy giant’s stock after buying an additional 8,020 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of Exelon Corporation worth $47,498,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Live Your Vision LLC raised its position in shares of 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 in the last quarter. Assetmark Inc. raised its position in shares of 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 in the last quarter. V Wealth Management LLC purchased a new position in shares of Exelon Corporation during the second quarter worth $111,000. Hudock Capital Group LLC raised its position in shares of 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 in the last quarter. Finally, Jacobi Capital Management LLC raised its position in shares of 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 in the last quarter. 72.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of Exelon Corporation (NYSE:EXC) opened at 37.99 on Monday. Exelon Corporation has a 12-month low of $29.82 and a 12-month high of $38.78. The firm has a market capitalization of $36.47 billion, a price-to-earnings ratio of 20.09 and a beta of 0.27. The company’s 50-day moving average price is $37.24 and its 200 day moving average price is $36.12.
Exelon Corporation (NYSE:EXC) last announced its quarterly earnings results on Wednesday, August 2nd. The energy giant reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The business had revenue of $7.62 billion for the quarter, compared to analyst estimates of $7.88 billion. Exelon Corporation had a return on equity of 8.47% and a net margin of 5.41%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 EPS. On average, equities research analysts forecast that Exelon Corporation will post $2.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, August 11th. Exelon Corporation’s dividend payout ratio (DPR) is 68.59%.
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EXC has been the topic of a number of research reports. BidaskClub raised Exelon Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Citigroup Inc. raised Exelon Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $36.00 to $43.00 in a report on Thursday, July 27th. Deutsche Bank AG reissued a “buy” rating and issued a $41.00 price objective on shares of Exelon Corporation in a report on Monday, July 17th. Credit Suisse Group reissued a “buy” rating and issued a $42.00 price objective on shares of Exelon Corporation in a report on Tuesday, May 30th. Finally, UBS AG raised Exelon Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $36.00 to $37.50 in a report on Monday, May 15th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Exelon Corporation has a consensus rating of “Buy” and an average target price of $39.92.
In other news, Chairman Mayo A. Shattuck III sold 465,892 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $36.52, for a total transaction of $17,014,375.84. Following the sale, the chairman now owns 567,649 shares of the company’s stock, valued at approximately $20,730,541.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Denis P. O’brien sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $38.50, for a total value of $1,155,000.00. Following the sale, the insider now directly owns 57,243 shares in the company, valued at approximately $2,203,855.50. The disclosure for this sale can be found here. Insiders have sold a total of 927,844 shares of company stock worth $34,570,885 in the last three months. Corporate 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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