Pinebridge Investments L.P. Has $642,000 Holdings in Exelon Corporation (EXC)
Pinebridge Investments L.P. boosted its stake in Exelon Corporation (NYSE:EXC) by 77.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,795 shares of the energy giant’s stock after purchasing an additional 7,754 shares during the quarter. Pinebridge Investments L.P.’s holdings in Exelon Corporation were worth $642,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of EXC. BlackRock Inc. increased 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 valued at $2,672,738,000 after buying an additional 72,335,239 shares during the period. Heartland Advisors Inc. lifted its holdings in shares of Exelon Corporation by 3.9% in the second quarter. Heartland Advisors Inc. now owns 373,842 shares of the energy giant’s stock worth $13,484,000 after buying an additional 13,982 shares in the last quarter. Calamos Advisors LLC lifted its holdings in shares of Exelon Corporation by 667.0% in the second quarter. Calamos Advisors LLC now owns 714,316 shares of the energy giant’s stock worth $25,765,000 after buying an additional 621,188 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Exelon Corporation by 8.0% in the second quarter. Baillie Gifford & Co. now owns 404,952 shares of the energy giant’s stock worth $14,606,000 after buying an additional 29,825 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Exelon Corporation by 4.3% in 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 buying an additional 98,244 shares in the last quarter. Institutional investors and hedge funds own 76.78% of the company’s stock.
Several equities analysts recently commented on the stock. Deutsche Bank AG reaffirmed a “buy” rating and set a $41.00 price objective on shares of Exelon Corporation in a research note on Monday, July 17th. BidaskClub upgraded shares of Exelon Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Citigroup Inc. raised shares of Exelon Corporation from a “neutral” rating to a “buy” rating and raised their price target for the company from $36.00 to $43.00 in a report on Thursday, July 27th. Barclays PLC reissued an “overweight” rating and issued a $44.00 price target (up from $43.00) on shares of Exelon Corporation in a report on Thursday, August 3rd. Finally, Wolfe Research raised shares of Exelon Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $40.17.
In other Exelon Corporation news, insider Denis P. O’brien sold 30,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $38.50, for a total value of $1,155,000.00. Following the sale, the insider now owns 57,243 shares in the company, valued at approximately $2,203,855.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jonathan W. Thayer sold 202,950 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $38.00, for a total transaction of $7,712,100.00. Following the completion of the sale, the chief financial officer now owns 237,181 shares in the company, valued at approximately $9,012,878. The disclosure for this sale can be found here. Insiders have sold 486,952 shares of company stock valued at $18,509,309 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.
Exelon Corporation (NYSE:EXC) opened at 37.67 on Monday. Exelon Corporation has a 12-month low of $29.82 and a 12-month high of $38.78. The stock has a market capitalization of $36.17 billion, a PE ratio of 19.92 and a beta of 0.29. The stock has a 50 day moving average price of $37.97 and a 200-day moving average price of $36.45.
Exelon Corporation (NYSE:EXC) last released its earnings results on Wednesday, August 2nd. The energy giant reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. Exelon Corporation had a net margin of 5.41% and a return on equity of 8.47%. The firm had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Exelon Corporation will post $2.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.3275 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.31 annualized dividend and a yield of 3.48%. Exelon Corporation’s payout ratio is 68.59%.
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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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