Wagner Bowman Management Corp Reduces Stake in Exelon Corp. (EXC)
Wagner Bowman Management Corp decreased its position in Exelon Corp. (NYSE:EXC) by 14.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 13,511 shares of the energy giant’s stock after selling 2,191 shares during the period. Wagner Bowman Management Corp’s holdings in Exelon Corp. were worth $491,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Fund Advisors boosted its stake in Exelon Corp. by 1.6% in the first quarter. BlackRock Fund Advisors now owns 14,833,203 shares of the energy giant’s stock worth $531,919,000 after buying an additional 235,370 shares during the last quarter. BlackRock Group LTD boosted its stake in Exelon Corp. by 3.3% in the first quarter. BlackRock Group LTD now owns 8,622,009 shares of the energy giant’s stock worth $309,183,000 after buying an additional 271,577 shares during the last quarter. Geode Capital Management LLC boosted its stake in Exelon Corp. by 0.7% in the first quarter. Geode Capital Management LLC now owns 8,151,213 shares of the energy giant’s stock worth $291,761,000 after buying an additional 58,544 shares during the last quarter. Legal & General Group Plc boosted its stake in Exelon Corp. by 5.4% in the first quarter. Legal & General Group Plc now owns 4,800,678 shares of the energy giant’s stock worth $172,144,000 after buying an additional 246,505 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Exelon Corp. by 0.8% in the first quarter. UBS Asset Management Americas Inc. now owns 3,155,158 shares of the energy giant’s stock worth $113,145,000 after buying an additional 24,005 shares during the last quarter. 74.91% of the stock is currently owned by hedge funds and other institutional investors.
Exelon Corp. (NYSE:EXC) traded down 0.73% during midday trading on Tuesday, hitting $33.91. 6,034,775 shares of the company were exchanged. The firm has a market capitalization of $31.29 billion, a PE ratio of 22.70 and a beta of 0.24. The stock has a 50 day moving average of $34.57 and a 200 day moving average of $34.98. Exelon Corp. has a 1-year low of $25.09 and a 1-year high of $37.70.
Exelon Corp. (NYSE:EXC) last announced its earnings results on Tuesday, August 9th. The energy giant reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The firm had revenue of $6.90 billion for the quarter, compared to analyst estimates of $7.30 billion. Exelon Corp. had a net margin of 4.58% and a return on equity of 8.52%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. On average, equities analysts predict that Exelon Corp. will post $2.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 15th were paid a dividend of $0.318 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, August 11th. Exelon Corp.’s payout ratio is 84.67%.
EXC has been the topic of a number of research reports. Deutsche Bank AG boosted their target price on shares of Exelon Corp. from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Bank of America Corp. reissued a “hold” rating and issued a $37.00 price objective on shares of Exelon Corp. in a research note on Thursday, August 11th. Jefferies Group reissued a “buy” rating and issued a $40.00 price objective on shares of Exelon Corp. in a research note on Friday, August 12th. Barclays PLC reduced their price objective on shares of Exelon Corp. from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 31st. Finally, Zacks Investment Research raised shares of Exelon Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. Exelon Corp. currently has an average rating of “Buy” and an average target price of $36.23.
In other news, CEO Kenneth W. Cornew sold 30,000 shares of Exelon Corp. stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $36.47, for a total transaction of $1,094,100.00. Following the sale, the chief executive officer now owns 32,844 shares of the company’s stock, valued at approximately $1,197,820.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.80% of the company’s stock.
Exelon Corp. Company Profile
Exelon Corporation is a utility services holding company. The Company operates through nine segments consisting of Exelon Generation Company, LLC’s (Generation’s) six power marketing segments, including Mid-Atlantic, Midwest, New England, New York, ERCOT and other regions; Commonwealth Edison Company (ComEd); PECO Energy Company (PECO), and Baltimore Gas and Electric Company (BGE).
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