Confluence Wealth Services Inc. Raises Stake in Exelon Co. (NASDAQ:EXC)

Confluence Wealth Services Inc. increased its stake in shares of Exelon Co. (NASDAQ:EXC) by 12.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,243 shares of the company’s stock after buying an additional 1,101 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Exelon were worth $385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Exelon during the fourth quarter worth about $382,015,000. DekaBank Deutsche Girozentrale increased its position in Exelon by 507.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,161,879 shares of the company’s stock worth $119,505,000 after purchasing an additional 2,641,756 shares during the period. Wellington Management Group LLP raised its stake in shares of Exelon by 2.6% during the 4th quarter. Wellington Management Group LLP now owns 93,146,101 shares of the company’s stock worth $3,343,945,000 after buying an additional 2,352,547 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Exelon by 501.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,290,847 shares of the company’s stock valued at $86,571,000 after buying an additional 1,909,731 shares during the period. Finally, Maple Brown Abbott Ltd acquired a new stake in shares of Exelon in the 3rd quarter valued at approximately $64,377,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Exelon Trading Down 0.4 %

Shares of Exelon stock traded down $0.14 during trading hours on Tuesday, reaching $37.58. 6,199,518 shares of the company’s stock were exchanged, compared to its average volume of 6,549,888. The firm has a market capitalization of $37.56 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.72 and a beta of 0.54. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.56. Exelon Co. has a 52-week low of $33.35 and a 52-week high of $43.53. The company has a fifty day moving average of $36.85 and a 200-day moving average of $37.03.

Exelon (NASDAQ:EXC) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Exelon had a net margin of 10.72% and a return on equity of 9.40%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the firm posted $0.43 EPS. The company’s revenue was up 15.0% on a year-over-year basis. Sell-side analysts forecast that Exelon Co. will post 2.41 EPS for the current fiscal year.

Exelon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, March 1st. This is a positive change from Exelon’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 4.04%. Exelon’s dividend payout ratio is currently 65.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Scotiabank dropped their price objective on Exelon from $39.00 to $37.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Barclays increased their price target on shares of Exelon from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. UBS Group lowered shares of Exelon from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $47.00 to $37.00 in a research report on Tuesday, January 2nd. Wells Fargo & Company dropped their target price on shares of Exelon from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. Finally, Bank of America decreased their price target on Exelon from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Exelon has an average rating of “Hold” and an average price target of $38.92.

Exelon Company Profile

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.