Exelon Corporation $EXC Shares Sold by Spire Wealth Management

Spire Wealth Management decreased its holdings in Exelon Corporation (NASDAQ:EXC) by 71.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,184 shares of the company’s stock after selling 23,026 shares during the quarter. Spire Wealth Management’s holdings in Exelon were worth $399,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Edgestream Partners L.P. boosted its stake in shares of Exelon by 354.9% during the 1st quarter. Edgestream Partners L.P. now owns 193,388 shares of the company’s stock valued at $8,911,000 after buying an additional 150,876 shares during the period. Arizona State Retirement System boosted its stake in shares of Exelon by 3.6% during the 1st quarter. Arizona State Retirement System now owns 294,857 shares of the company’s stock valued at $13,587,000 after buying an additional 10,176 shares during the period. Cerity Partners LLC boosted its stake in shares of Exelon by 14.9% during the 1st quarter. Cerity Partners LLC now owns 485,968 shares of the company’s stock valued at $22,393,000 after buying an additional 63,009 shares during the period. Intech Investment Management LLC boosted its stake in shares of Exelon by 24.6% during the 1st quarter. Intech Investment Management LLC now owns 44,576 shares of the company’s stock valued at $2,054,000 after buying an additional 8,809 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Exelon during the 1st quarter valued at $47,789,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Exelon in a research note on Friday. Barclays lifted their price objective on shares of Exelon from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. TD Cowen began coverage on shares of Exelon in a research note on Thursday, October 16th. They issued a “hold” rating and a $49.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Exelon from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Finally, UBS Group lifted their price objective on shares of Exelon from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Exelon has an average rating of “Moderate Buy” and an average target price of $50.55.

Exelon Stock Down 2.0%

EXC stock opened at $46.12 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. Exelon Corporation has a 1 year low of $35.94 and a 1 year high of $48.51. The company has a fifty day simple moving average of $45.22 and a 200 day simple moving average of $44.54. The firm has a market cap of $46.58 billion, a PE ratio of 17.54, a PEG ratio of 2.93 and a beta of 0.40.

Exelon (NASDAQ:EXC) last announced its earnings results on Thursday, July 31st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.47 billion. Exelon had a net margin of 11.16% and a return on equity of 9.85%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. Sell-side analysts anticipate that Exelon Corporation will post 2.64 EPS for the current fiscal year.

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, November 10th. Exelon’s dividend payout ratio (DPR) is 60.84%.

About Exelon

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.