Johnson Financial Group Inc. Lowers Stake in Exelon Corporation (EXC)
Johnson Financial Group Inc. cut its holdings in shares of Exelon Corporation (NYSE:EXC) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,898 shares of the energy giant’s stock after selling 515 shares during the period. Johnson Financial Group Inc.’s holdings in Exelon Corporation were worth $1,042,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its position in shares of Exelon Corporation by 3,711.9% during the first quarter. BlackRock Inc. now owns 74,283,986 shares of the energy giant’s stock worth $2,672,738,000 after acquiring an additional 72,335,239 shares during the last quarter. Heartland Advisors Inc. grew its position in shares of Exelon Corporation by 3.9% during the second quarter. Heartland Advisors Inc. now owns 373,842 shares of the energy giant’s stock worth $13,484,000 after acquiring an additional 13,982 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Exelon Corporation by 4.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,402,806 shares of the energy giant’s stock worth $86,669,000 after acquiring an additional 98,244 shares during the last quarter. Gradient Investments LLC grew its position in shares of Exelon Corporation by 1,926.0% during the second quarter. Gradient Investments LLC now owns 202,780 shares of the energy giant’s stock worth $7,314,000 after acquiring an additional 192,771 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Exelon Corporation by 6.5% during the first quarter. Victory Capital Management Inc. now owns 186,362 shares of the energy giant’s stock worth $6,705,000 after acquiring an additional 11,333 shares during the last quarter. Institutional investors and hedge funds own 76.79% of the company’s stock.
Shares of Exelon Corporation (NYSE:EXC) traded up 0.37% during midday trading on Friday, hitting $38.17. 4,466,711 shares of the company’s stock traded hands. The company has a 50 day moving average of $37.96 and a 200 day moving average of $36.38. Exelon Corporation has a 52 week low of $29.82 and a 52 week high of $38.78. The stock has a market cap of $36.65 billion, a P/E ratio of 20.19 and a beta of 0.28.
Exelon Corporation (NYSE:EXC) last released its quarterly earnings results on Wednesday, August 2nd. The energy giant reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Exelon Corporation had a return on equity of 8.47% and a net margin of 5.41%. The company had revenue of $7.62 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts forecast that Exelon Corporation will post $2.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th were paid a $0.3275 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.31 annualized dividend and a dividend yield of 3.43%. Exelon Corporation’s payout ratio is 68.59%.
A number of equities analysts have recently issued reports on the stock. Deutsche Bank AG restated a “buy” rating and set a $41.00 target price on shares of Exelon Corporation in a research report on Monday, July 17th. BidaskClub upgraded shares of Exelon Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Citigroup Inc. upgraded shares of Exelon Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $36.00 to $43.00 in a research report on Thursday, July 27th. Barclays PLC restated an “overweight” rating and set a $44.00 target price (up from $43.00) on shares of Exelon Corporation in a research report on Thursday, August 3rd. Finally, Wolfe Research upgraded shares of Exelon Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $40.17.
TRADEMARK VIOLATION NOTICE: This report was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/09/09/johnson-financial-group-inc-lowers-stake-in-exelon-corporation-exc.html.
In other news, insider Denis P. O’brien sold 30,000 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 57,243 shares of the company’s stock, valued at $2,203,855.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jonathan W. Thayer sold 215,669 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $38.00, for a total value of $8,195,422.00. Following the completion of the transaction, the executive vice president now directly owns 237,181 shares of the company’s stock, valued at approximately $9,012,878. The disclosure for this sale can be found here. In the last three months, insiders sold 927,844 shares of company stock valued at $34,570,885. Company insiders own 0.70% of the company’s stock.
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.
Want to see what other hedge funds are holding EXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelon Corporation (NYSE:EXC).
Receive News & Stock Ratings for Exelon Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelon Corporation and related stocks with our FREE daily email newsletter.