Clinton Group Inc. Sells 33,296 Shares of Exelon Corporation (EXC)
Clinton Group Inc. lessened its stake in shares of Exelon Corporation (NYSE:EXC) by 76.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,280 shares of the energy giant’s stock after selling 33,296 shares during the period. Clinton Group Inc.’s holdings in Exelon Corporation were worth $371,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Hudock Capital Group LLC increased its stake in Exelon Corporation by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 3,206 shares of the energy giant’s stock worth $115,000 after acquiring an additional 13 shares during the period. Cambridge Advisors Inc. increased its stake in Exelon Corporation by 0.3% during the 2nd quarter. Cambridge Advisors Inc. now owns 6,913 shares of the energy giant’s stock worth $249,000 after acquiring an additional 23 shares during the period. Live Your Vision LLC increased its stake in Exelon Corporation by 0.9% during the 2nd quarter. Live Your Vision LLC now owns 2,977 shares of the energy giant’s stock worth $115,000 after acquiring an additional 26 shares during the period. Chesley Taft & Associates LLC increased its stake in Exelon Corporation by 0.6% during the 2nd quarter. Chesley Taft & Associates LLC now owns 5,915 shares of the energy giant’s stock worth $213,000 after acquiring an additional 35 shares during the period. Finally, Sterling Investment Advisors Ltd. increased its stake in Exelon Corporation by 1.2% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 3,145 shares of the energy giant’s stock worth $113,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 76.78% of the company’s stock.
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In related news, EVP Paymon Aliabadi sold 13,333 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $38.31, for a total value of $510,787.23. Following the transaction, the executive vice president now owns 39,769 shares of the company’s stock, valued at $1,523,550.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth W. Cornew sold 25,000 shares of the stock in a transaction on Monday, September 25th. The shares were sold at an average price of $37.44, for a total value of $936,000.00. Following the completion of the transaction, the executive vice president now directly owns 28,363 shares in the company, valued at approximately $1,061,910.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 486,952 shares of company stock worth $18,509,309. Insiders own 0.70% of the company’s stock.
A number of equities analysts have commented on EXC shares. KeyCorp restated a “buy” rating and set a $41.00 price objective on shares of Exelon Corporation in a research note on Friday, September 1st. BidaskClub upgraded Exelon Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Citigroup Inc. upgraded Exelon Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $43.00 in a research note on Thursday, July 27th. Morgan Stanley raised their price objective on Exelon Corporation from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Finally, Wolfe Research upgraded Exelon Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $40.18.
Exelon Corporation (NYSE:EXC) opened at 38.15 on Monday. The stock has a 50 day moving average price of $37.82 and a 200 day moving average price of $36.60. The company has a market cap of $36.63 billion, a price-to-earnings ratio of 20.17 and a beta of 0.29. Exelon Corporation has a 52 week low of $29.82 and a 52 week high of $38.78.
Exelon Corporation (NYSE:EXC) last released its quarterly earnings results on Wednesday, August 2nd. The energy giant reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $7.88 billion. Exelon Corporation had a net margin of 5.41% and a return on equity of 8.47%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, equities analysts forecast that Exelon Corporation will post $2.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be issued a $0.3275 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.31 annualized dividend and a dividend yield of 3.43%. Exelon Corporation’s payout ratio is currently 68.59%.
About Exelon Corporation
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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