Sumitomo Mitsui Trust Holdings Inc. Trims Stake in Exelon Corporation (EXC)
Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in shares of Exelon Corporation (NYSE:EXC) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,756,851 shares of the energy giant’s stock after selling 60,934 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of Exelon Corporation worth $103,851,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Exelon Corporation by 12.3% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 254,521 shares of the energy giant’s stock worth $9,588,000 after acquiring an additional 27,800 shares in the last quarter. HighPoint Advisor Group LLC increased its holdings in Exelon Corporation by 3.1% in the 3rd quarter. HighPoint Advisor Group LLC now owns 50,101 shares of the energy giant’s stock worth $2,040,000 after acquiring an additional 1,523 shares in the last quarter. Comerica Bank increased its holdings in Exelon Corporation by 2.6% in the 3rd quarter. Comerica Bank now owns 244,794 shares of the energy giant’s stock worth $9,850,000 after acquiring an additional 6,222 shares in the last quarter. CI Global Investments Inc. increased its holdings in Exelon Corporation by 27.3% in the 3rd quarter. CI Global Investments Inc. now owns 4,826,971 shares of the energy giant’s stock worth $181,832,000 after acquiring an additional 1,036,477 shares in the last quarter. Finally, TCW Group Inc. purchased a new stake in Exelon Corporation in the 3rd quarter worth approximately $606,000. 77.37% of the stock is owned by hedge funds and other institutional investors.
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 transaction of $510,787.23. Following the sale, the executive vice president now owns 39,769 shares in the company, valued at approximately $1,523,550.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mayo A. Shattuck III sold 567,070 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $40.12, for a total value of $22,750,848.40. Following the sale, the chairman now owns 746,986 shares in the company, valued at approximately $29,969,078.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,312,787 shares of company stock worth $52,683,909 in the last 90 days. 0.70% of the stock is currently owned by insiders.
Exelon Corporation (NYSE:EXC) traded down $0.53 during trading hours on Friday, reaching $41.24. The company had a trading volume of 6,987,000 shares, compared to its average volume of 4,880,254. Exelon Corporation has a one year low of $31.43 and a one year high of $42.67. The stock has a market cap of $40,102.87, a price-to-earnings ratio of 16.84, a PEG ratio of 3.64 and a beta of 0.31. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 1.06.
Exelon Corporation (NYSE:EXC) last released its quarterly earnings results on Thursday, November 2nd. The energy giant reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.01). Exelon Corporation had a net margin of 6.59% and a return on equity of 8.19%. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.58 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The business’s quarterly revenue was down 2.6% on a year-over-year basis. analysts anticipate that Exelon Corporation will post 2.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.3275 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.31 annualized dividend and a yield of 3.18%. Exelon Corporation’s payout ratio is presently 58.74%.
Several research analysts have weighed in on EXC shares. Zacks Investment Research downgraded Exelon Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. KeyCorp restated a “buy” rating and issued a $41.00 price target on shares of Exelon Corporation in a research note on Friday, September 1st. Royal Bank Of Canada restated a “buy” rating and issued a $43.00 price target on shares of Exelon Corporation in a research note on Tuesday, November 7th. Barclays PLC restated an “overweight” rating and issued a $44.00 price target (up from $43.00) on shares of Exelon Corporation in a research note on Wednesday, August 9th. Finally, ValuEngine upgraded Exelon Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen 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 an average price target of $40.64.
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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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