Parametric Portfolio Associates LLC Acquires 94,444 Shares of Exelon Co. (NYSE:EXC)
Parametric Portfolio Associates LLC lifted its holdings in Exelon Co. (NYSE:EXC) by 2.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,057,150 shares of the energy giant’s stock after purchasing an additional 94,444 shares during the period. Parametric Portfolio Associates LLC owned about 0.42% of Exelon worth $194,500,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Centersquare Investment Management LLC purchased a new position in shares of Exelon in the 1st quarter worth approximately $26,000. Quantamental Technologies LLC purchased a new stake in shares of Exelon during the 2nd quarter valued at $29,000. Manchester Financial Inc. acquired a new stake in shares of Exelon in the 2nd quarter worth $30,000. Resources Investment Advisors LLC. grew its stake in Exelon by 167.5% during the 2nd quarter. Resources Investment Advisors LLC. now owns 634 shares of the energy giant’s stock worth $30,000 after buying an additional 397 shares during the last quarter. Finally, Weaver Consulting Group acquired a new position in Exelon during the 1st quarter valued at about $31,000. 79.07% of the stock is owned by hedge funds and other institutional investors.
Several analysts have weighed in on the stock. Mizuho boosted their target price on shares of Exelon from $47.00 to $49.50 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. SunTrust Banks set a $49.00 price target on shares of Exelon and gave the stock a “hold” rating in a report on Tuesday, September 3rd. KeyCorp started coverage on shares of Exelon in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. ValuEngine lowered shares of Exelon from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Barclays raised Exelon from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $54.00 to $52.00 in a research report on Tuesday, August 13th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Exelon presently has a consensus rating of “Buy” and a consensus price target of $50.82.
Exelon (NYSE:EXC) last issued its earnings results on Thursday, August 1st. The energy giant reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.03). The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.03 billion. Exelon had a return on equity of 8.47% and a net margin of 6.43%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. As a group, analysts anticipate that Exelon Co. will post 3.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.363 per share. This represents a $1.45 annualized dividend and a yield of 2.99%. The ex-dividend date was Wednesday, August 14th. Exelon’s dividend payout ratio is currently 46.47%.
In other news, EVP Kenneth W. Cornew sold 54,300 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $49.82, for a total transaction of $2,705,226.00. Following the sale, the executive vice president now directly owns 97,813 shares in the company, valued at approximately $4,873,043.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Calvin Butler, Jr. sold 31,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $47.59, for a total value of $1,475,290.00. Following the completion of the transaction, the chief executive officer now directly owns 40,331 shares of the company’s stock, valued at approximately $1,919,352.29. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.
Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, and solar generating facilities. The company also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.
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