Exelon Corporation (EXC) Position Cut by BB&T Securities LLC
BB&T Securities LLC reduced its position in shares of Exelon Corporation (NYSE:EXC) by 13.9% during the first quarter, Holdings Channel reports. The institutional investor owned 36,454 shares of the energy giant’s stock after selling 5,873 shares during the period. BB&T Securities LLC’s holdings in Exelon Corporation were worth $1,311,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in EXC. Assetmark Inc. raised its position in shares of Exelon Corporation by 703.5% in the first quarter. Assetmark Inc. now owns 2,981 shares of the energy giant’s stock worth $107,000 after buying an additional 2,610 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Exelon Corporation by 21.2% in the fourth quarter. Bessemer Group Inc. now owns 3,030 shares of the energy giant’s stock worth $108,000 after buying an additional 530 shares in the last quarter. Hudock Capital Group LLC raised its position in shares of Exelon Corporation by 8.1% in the first quarter. Hudock Capital Group LLC now owns 3,193 shares of the energy giant’s stock worth $114,000 after buying an additional 240 shares in the last quarter. Parallel Advisors LLC bought a new position in shares of Exelon Corporation during the fourth quarter worth about $126,000. Finally, Advisory Services Network LLC bought a new position in shares of Exelon Corporation during the first quarter worth about $135,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.
Exelon Corporation (NYSE EXC) traded up 0.71% during trading on Friday, hitting $37.08. 5,540,407 shares of the stock traded hands. The firm’s 50-day moving average is $35.43 and its 200 day moving average is $35.45. The stock has a market cap of $34.34 billion, a P/E ratio of 17.65 and a beta of 0.26. Exelon Corporation has a 52 week low of $29.82 and a 52 week high of $37.70.
Exelon Corporation (NYSE:EXC) last posted its earnings results on Wednesday, May 3rd. The energy giant reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.69 billion. Exelon Corporation had a return on equity of 9.00% and a net margin of 6.10%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 EPS. Equities research analysts forecast that Exelon Corporation will post $2.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Monday, May 15th were given a dividend of $0.3275 per share. The ex-dividend date was Thursday, May 11th. This represents a $1.31 annualized dividend and a dividend yield of 3.53%. Exelon Corporation’s payout ratio is currently 62.09%.
EXC has been the subject of a number of recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $39.50 target price on shares of Exelon Corporation in a research report on Thursday, April 20th. Royal Bank Of Canada reiterated a “buy” rating and issued a $40.00 target price on shares of Exelon Corporation in a research report on Friday, March 17th. Credit Suisse Group reiterated a “buy” rating and issued a $42.00 target price on shares of Exelon Corporation in a research report on Tuesday, May 30th. Morgan Stanley lowered shares of Exelon Corporation from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $40.00 to $37.00 in a research report on Tuesday, March 28th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Exelon Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Exelon Corporation presently has a consensus rating of “Hold” and a consensus target price of $38.96.
In related news, Chairman Mayo A. Shattuck III sold 465,892 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $36.52, for a total value of $17,014,375.84. Following the completion of the transaction, the chairman now directly owns 567,649 shares in the company, valued at approximately $20,730,541.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Rogers, Jr. acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was acquired at an average price of $33.57 per share, with a total value of $100,710.00. Following the completion of the transaction, the director now directly owns 14,374 shares in the company, valued at approximately $482,535.18. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by insiders.
About Exelon Corporation
Exelon Corporation is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. The Company, through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), is engaged in the energy delivery businesses.
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