ZWJ Investment Counsel Inc. Raises Position in Exelon Corporation (EXC)
ZWJ Investment Counsel Inc. boosted its position in shares of Exelon Corporation (NYSE:EXC) by 3.1% during the first quarter, Holdings Channel reports. The institutional investor owned 512,646 shares of the energy giant’s stock after buying an additional 15,582 shares during the period. Exelon Corporation comprises approximately 1.5% of ZWJ Investment Counsel Inc.’s holdings, making the stock its 25th largest position. ZWJ Investment Counsel Inc. owned 0.06% of Exelon Corporation worth $18,445,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Exelon Corporation during the fourth quarter worth approximately $295,370,000. Wells Fargo & Company MN raised its stake in Exelon Corporation by 91.4% in the first quarter. Wells Fargo & Company MN now owns 7,854,768 shares of the energy giant’s stock valued at $282,615,000 after buying an additional 3,749,880 shares during the period. Energy Income Partners LLC bought a new stake in Exelon Corporation during the fourth quarter valued at about $79,667,000. Asset Management One Co. Ltd. raised its stake in Exelon Corporation by 1,739.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,627,186 shares of the energy giant’s stock valued at $57,776,000 after buying an additional 1,538,719 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Exelon Corporation by 107.2% in the first quarter. Canada Pension Plan Investment Board now owns 2,930,063 shares of the energy giant’s stock valued at $105,424,000 after buying an additional 1,515,767 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.
Exelon Corporation (EXC) traded up 0.71% during trading on Friday, reaching $37.08. The company’s stock had a trading volume of 5,540,407 shares. Exelon Corporation has a 52-week low of $29.82 and a 52-week high of $37.70. The stock has a 50-day moving average price of $35.43 and a 200 day moving average price of $35.45. The company has a market cap of $34.34 billion, a PE ratio of 17.65 and a beta of 0.26.
Exelon Corporation (NYSE:EXC) last released its earnings results on Wednesday, May 3rd. The energy giant reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Exelon Corporation had a return on equity of 9.00% and a net margin of 6.10%. The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.69 billion. During the same quarter in the previous year, the company posted $0.68 EPS. Exelon Corporation’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, analysts expect that Exelon Corporation will post $2.67 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Monday, May 15th were paid a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Thursday, May 11th. Exelon Corporation’s dividend payout ratio (DPR) is presently 62.09%.
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Several research firms have recently issued reports on EXC. ValuEngine lowered Exelon Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Credit Suisse Group reissued a “buy” rating and set a $42.00 target price on shares of Exelon Corporation in a report on Tuesday, May 30th. Morgan Stanley lowered Exelon Corporation from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $40.00 to $37.00 in a report on Tuesday, March 28th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “buy” rating and set a $39.50 target price on shares of Exelon Corporation in a report on Thursday, April 20th. Finally, Zacks Investment Research lowered Exelon Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $38.96.
In other news, Chairman Mayo A. Shattuck III sold 465,892 shares of the business’s stock in a transaction dated 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 sale, the chairman now owns 567,649 shares of the company’s stock, valued at approximately $20,730,541.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. bought 3,000 shares of the stock in a transaction dated Thursday, May 11th. The stock was bought at an average cost of $33.57 per share, with a total value of $100,710.00. Following the purchase, the director now owns 14,374 shares in the company, valued at approximately $482,535.18. The disclosure for this purchase can be found here. Insiders own 0.70% of the company’s stock.
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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