Jennison Associates LLC Decreases Position in Exelon Corporation (EXC)
Jennison Associates LLC reduced its stake in shares of Exelon Corporation (NYSE:EXC) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 6,385,741 shares of the energy giant’s stock after selling 36,453 shares during the period. Jennison Associates LLC’s holdings in Exelon Corporation were worth $230,334,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of EXC. Live Your Vision LLC boosted its stake in Exelon Corporation by 0.9% in the first quarter. Live Your Vision LLC now owns 2,951 shares of the energy giant’s stock valued at $106,000 after buying an additional 27 shares in the last quarter. Assetmark Inc. boosted 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 valued at $107,000 after buying an additional 2,610 shares during the period. V Wealth Management LLC purchased a new position in shares of Exelon Corporation during the second quarter valued at approximately $111,000. Hudock Capital Group LLC boosted 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 valued at $114,000 after buying an additional 240 shares during the period. Finally, Jacobi Capital Management LLC boosted its position in shares of Exelon Corporation by 12.3% in the first quarter. Jacobi Capital Management LLC now owns 3,388 shares of the energy giant’s stock valued at $122,000 after buying an additional 372 shares during the period. 72.01% of the stock is owned by institutional investors.
Exelon Corporation (EXC) traded up 1.04% on Friday, reaching $37.99. The company’s stock had a trading volume of 3,853,849 shares. Exelon Corporation has a 12 month low of $29.82 and a 12 month high of $38.78. The company has a market cap of $36.47 billion, a P/E ratio of 20.09 and a beta of 0.27. The company has a 50-day moving average price of $37.24 and a 200 day moving average price of $36.12.
Exelon Corporation (NYSE:EXC) last released its earnings results on Wednesday, August 2nd. The energy giant reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $7.88 billion. Exelon Corporation had a return on equity of 8.47% and a net margin of 5.41%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. On average, equities research analysts anticipate that Exelon Corporation will post $2.69 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.3275 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 3.45%. Exelon Corporation’s payout ratio is 68.59%.
EXC has been the subject of several research reports. Barclays PLC reaffirmed an “overweight” rating and issued a $43.00 target price (up from $40.00) on shares of Exelon Corporation in a research report on Sunday, April 23rd. Citigroup Inc. raised Exelon Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $36.00 to $43.00 in a research report on Thursday, July 27th. Wolfe Research raised Exelon Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $41.00 target price on shares of Exelon Corporation in a research report on Monday, July 17th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $37.00 target price on shares of Exelon Corporation in a research report on Thursday, May 4th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Exelon Corporation currently has a consensus rating of “Buy” and a consensus target price of $39.92.
In other news, Chairman Mayo A. Shattuck III sold 465,892 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $36.52, for a total transaction of $17,014,375.84. Following the completion of the sale, the chairman now directly owns 567,649 shares in the company, valued at approximately $20,730,541.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Denis P. O’brien sold 30,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $38.50, for a total value of $1,155,000.00. Following the sale, the insider now owns 57,243 shares of the company’s stock, valued at $2,203,855.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 927,844 shares of company stock valued at $34,570,885. Corporate insiders own 0.70% of the company’s stock.
Exelon Corporation Company Profile
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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