Lazard Asset Management LLC Sells 5,351,820 Shares of Exelon Corporation $EXC

Lazard Asset Management LLC lessened its stake in Exelon Corporation (NASDAQ:EXC) by 24.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,891,609 shares of the company’s stock after selling 5,351,820 shares during the period. Exelon comprises 1.0% of Lazard Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Lazard Asset Management LLC’s holdings in Exelon were worth $733,432,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in EXC. Hager Investment Management Services LLC raised its holdings in Exelon by 100.0% in the 2nd quarter. Hager Investment Management Services LLC now owns 670 shares of the company’s stock valued at $29,000 after acquiring an additional 335 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Exelon during the second quarter valued at approximately $29,000. CoreFirst Bank & Trust acquired a new position in shares of Exelon in the second quarter valued at $38,000. Investment Research & Advisory Group Inc. acquired a new stake in Exelon during the second quarter worth $39,000. Finally, Sound Income Strategies LLC increased its holdings in Exelon by 213.7% in the 2nd quarter. Sound Income Strategies LLC now owns 1,189 shares of the company’s stock valued at $52,000 after buying an additional 810 shares during the period. 80.92% of the stock is owned by institutional investors and hedge funds.

Exelon Stock Up 1.1%

NASDAQ EXC opened at $43.57 on Friday. The stock’s 50 day simple moving average is $46.14 and its 200 day simple moving average is $44.55. Exelon Corporation has a one year low of $35.94 and a one year high of $48.51. The firm has a market cap of $44.02 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 2.65 and a beta of 0.45. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.94 and a quick ratio of 0.85.

Exelon (NASDAQ:EXC) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.17. The firm had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.40 billion. Exelon had a return on equity of 10.28% and a net margin of 11.60%.Exelon has set its FY 2025 guidance at 2.640-2.740 EPS. As a group, sell-side analysts forecast that Exelon Corporation will post 2.64 earnings per share for the current fiscal year.

Exelon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 10th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, November 10th. This represents a $1.60 annualized dividend and a yield of 3.7%. Exelon’s dividend payout ratio is 57.35%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley reaffirmed an “underperform” rating and set a $52.00 price objective on shares of Exelon in a report on Thursday, November 20th. Wells Fargo & Company raised Exelon to a “strong-buy” rating in a report on Tuesday, October 28th. Evercore ISI assumed coverage on Exelon in a research note on Monday, October 6th. They issued an “outperform” rating and a $57.00 price target on the stock. TD Cowen began coverage on Exelon in a research report on Thursday, October 16th. They issued a “hold” rating and a $49.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Exelon from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $49.92.

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.