Keybank National Association OH Lowers Position in Exelon Co. (EXC)
Keybank National Association OH reduced its position in Exelon Co. (NYSE:EXC) by 37.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,139 shares of the energy giant’s stock after selling 8,494 shares during the quarter. Keybank National Association OH’s holdings in Exelon were worth $557,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in EXC. Assenagon Asset Management S.A. bought a new stake in shares of Exelon during the third quarter valued at about $607,000. Robeco Institutional Asset Management B.V. increased its position in shares of Exelon by 14.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 291,197 shares of the energy giant’s stock valued at $10,968,000 after buying an additional 37,405 shares during the period. Nationwide Fund Advisors increased its position in shares of Exelon by 0.3% during the third quarter. Nationwide Fund Advisors now owns 857,371 shares of the energy giant’s stock valued at $32,297,000 after buying an additional 2,969 shares during the period. Xact Kapitalforvaltning AB increased its position in shares of Exelon by 4.4% during the third quarter. Xact Kapitalforvaltning AB now owns 75,863 shares of the energy giant’s stock valued at $2,858,000 after buying an additional 3,223 shares during the period. Finally, Aperio Group LLC increased its position in shares of Exelon by 16.6% during the third quarter. Aperio Group LLC now owns 713,787 shares of the energy giant’s stock valued at $26,888,000 after buying an additional 101,837 shares during the period. Institutional investors and hedge funds own 78.42% of the company’s stock.
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Exelon from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley decreased their price target on Exelon from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 8th. UBS Group assumed coverage on Exelon in a research report on Friday, February 2nd. They set a “buy” rating and a $44.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price target on shares of Exelon in a research report on Wednesday, February 14th. Finally, KeyCorp decreased their price target on Exelon from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $40.91.
Exelon (NYSE:EXC) last issued its quarterly earnings data on Wednesday, February 7th. The energy giant reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.05). Exelon had a return on equity of 8.35% and a net margin of 11.53%. The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the previous year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. research analysts forecast that Exelon Co. will post 3.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.345 per share. This is a positive change from Exelon’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.38 annualized dividend and a dividend yield of 3.61%. Exelon’s payout ratio is presently 34.94%.
In other news, EVP Paymon Aliabadi sold 13,334 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $40.62, for a total transaction of $541,627.08. Following the completion of the transaction, the executive vice president now owns 26,435 shares of the company’s stock, valued at $1,073,789.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.
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Exelon 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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