Exelon Corporation $EXC Stock Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in shares of Exelon Corporation (NASDAQ:EXC) by 9.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 193,080 shares of the company’s stock after selling 19,811 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Exelon were worth $7,800,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in Exelon by 133.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 505,564 shares of the company’s stock worth $23,569,000 after acquiring an additional 289,436 shares during the period. Amundi lifted its position in Exelon by 1.3% during the 2nd quarter. Amundi now owns 10,506,650 shares of the company’s stock worth $489,809,000 after acquiring an additional 130,712 shares during the last quarter. AXQ Capital LP acquired a new position in Exelon during the 2nd quarter worth $1,345,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Exelon by 8.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 308,405 shares of the company’s stock valued at $14,378,000 after acquiring an additional 24,885 shares during the period. Finally, Cibc World Market Inc. bought a new stake in Exelon during the second quarter valued at about $6,894,000. Institutional investors own 80.92% of the company’s stock.

Exelon Trading Up 0.0%

Shares of EXC stock opened at $45.63 on Friday. The firm has a market capitalization of $47.22 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.49 and a beta of 0.24. Exelon Corporation has a 1 year low of $39.73 and a 1 year high of $50.65. The firm’s fifty day simple moving average is $43.18 and its 200 day simple moving average is $45.64. The company has a current ratio of 1.03, a quick ratio of 0.93 and a debt-to-equity ratio of 1.70.

Exelon (NASDAQ:EXC) last issued its quarterly earnings results on Friday, October 30th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. Exelon had a net margin of 10.17% and a return on equity of 9.75%. The firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same period in the prior year, the firm earned $0.86 EPS. The business’s revenue was up 9.2% on a year-over-year basis. As a group, sell-side analysts predict that Exelon Corporation will post 2.87 EPS for the current year.

Exelon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, December 4th. This represents a $1.68 annualized dividend and a dividend yield of 3.7%. Exelon’s payout ratio is presently 65.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EXC. Jefferies Financial Group reaffirmed a “hold” rating on shares of Exelon in a research report on Wednesday, October 28th. Morgan Stanley cut their price objective on Exelon from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 21st. Barclays decreased their target price on Exelon from $49.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Truist Financial decreased their target price on Exelon from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, October 16th. Finally, HSBC began coverage on Exelon in a report on Thursday, October 22nd. They issued a “hold” rating and a $44.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Exelon has a consensus rating of “Hold” and an average price target of $48.33.

About Exelon

Exelon is a regulated energy delivery company that operates electric and natural gas utilities. Its businesses deliver energy to homes and businesses, maintain utility infrastructure, and provide related customer services. The company serves customers in Illinois, Pennsylvania, Maryland, Delaware, New Jersey, and the District of Columbia through utilities including ComEd, PECO, BGE, Pepco, Delmarva Power, and Atlantic City Electric. Exelon was formed in 2000 through the merger of PECO Energy and Unicom, then the parent of Commonwealth Edison.