BlueCrest Capital Management Ltd Sells 98,569 Shares of Exelon Corporation (EXC)
BlueCrest Capital Management Ltd trimmed its position in shares of Exelon Corporation (NYSE:EXC) by 60.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,457 shares of the energy giant’s stock after selling 98,569 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in Exelon Corporation were worth $2,289,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in EXC. Arizona State Retirement System boosted its stake in shares of Exelon Corporation by 0.5% during the first quarter. Arizona State Retirement System now owns 229,362 shares of the energy giant’s stock valued at $8,252,000 after purchasing an additional 1,100 shares in the last quarter. WBI Investments Inc. lifted its stake in shares of Exelon Corporation by 350.8% in the first quarter. WBI Investments Inc. now owns 71,622 shares of the energy giant’s stock worth $2,577,000 after acquiring an additional 55,736 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Exelon Corporation by 1.1% in the first quarter. IFM Investors Pty Ltd now owns 11,822 shares of the energy giant’s stock worth $425,000 after acquiring an additional 125 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Exelon Corporation by 7.3% in the first quarter. Neuberger Berman Group LLC now owns 3,173,874 shares of the energy giant’s stock worth $114,196,000 after acquiring an additional 215,190 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. lifted its stake in shares of Exelon Corporation by 4.6% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 525,021 shares of the energy giant’s stock worth $18,889,000 after acquiring an additional 22,898 shares during the period. 76.78% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, EVP Jonathan W. Thayer sold 215,669 shares of the firm’s stock in a transaction that occurred 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 owns 237,181 shares in the company, valued at approximately $9,012,878. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jonathan W. Thayer sold 202,950 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $38.00, for a total value of $7,712,100.00. Following the completion of the transaction, the chief financial officer now 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 quarter, insiders sold 486,952 shares of company stock valued at $18,509,309. Company insiders own 0.70% of the company’s stock.
Exelon Corporation (NYSE EXC) opened at 38.24 on Wednesday. The firm has a 50-day moving average price of $37.83 and a 200 day moving average price of $36.64. Exelon Corporation has a 52 week low of $29.82 and a 52 week high of $38.78. The firm has a market capitalization of $36.71 billion, a price-to-earnings ratio of 20.22 and a beta of 0.29.
Exelon Corporation (NYSE:EXC) last released its quarterly earnings data 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. Exelon Corporation had a return on equity of 8.47% and a net margin of 5.41%. The business had revenue of $7.62 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the business posted $0.65 EPS. The business’s revenue was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Exelon Corporation will post $2.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be issued a $0.3275 dividend. This represents a $1.31 annualized dividend and a yield of 3.42%. The ex-dividend date is Tuesday, November 14th. Exelon Corporation’s dividend payout ratio (DPR) is currently 68.59%.
A number of research firms recently commented on EXC. Deutsche Bank AG reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Exelon Corporation in a research note on Monday, July 17th. Goldman Sachs Group, Inc. (The) lowered Exelon Corporation from a “neutral” rating to a “sell” rating in a research note on Wednesday. BidaskClub raised Exelon Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Citigroup Inc. raised Exelon Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $43.00 in a research note on Thursday, July 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $44.00 price objective (up from $43.00) on shares of Exelon Corporation in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $40.18.
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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