Concert Wealth Management Inc. boosted its stake in shares of Exelon Corp. (NYSE:EXC) by 17.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,231 shares of the energy giant’s stock after buying an additional 1,372 shares during the period. Concert Wealth Management Inc.’s holdings in Exelon Corp. were worth $336,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. CT Financial Advisors LLC boosted its position in Exelon Corp. by 0.3% in the second quarter. CT Financial Advisors LLC now owns 4,096 shares of the energy giant’s stock valued at $149,000 after buying an additional 11 shares during the period. FirstMerit Bank N A Trustee boosted its position in Exelon Corp. by 0.6% in the second quarter. FirstMerit Bank N A Trustee now owns 14,912 shares of the energy giant’s stock valued at $542,000 after buying an additional 88 shares during the period. DAVENPORT & Co LLC boosted its position in Exelon Corp. by 1.2% in the second quarter. DAVENPORT & Co LLC now owns 7,735 shares of the energy giant’s stock valued at $281,000 after buying an additional 93 shares during the period. Cornerstone Investment Partners LLC boosted its position in Exelon Corp. by 1.0% in the second quarter. Cornerstone Investment Partners LLC now owns 9,865 shares of the energy giant’s stock valued at $359,000 after buying an additional 100 shares during the period. Finally, CHICAGO TRUST Co NA boosted its position in Exelon Corp. by 1.2% in the second quarter. CHICAGO TRUST Co NA now owns 9,759 shares of the energy giant’s stock valued at $355,000 after buying an additional 112 shares during the period. 74.90% of the stock is owned by hedge funds and other institutional investors.
Exelon Corp. (NYSE:EXC) traded down 0.46% on Friday, hitting $32.70. The stock had a trading volume of 4,521,006 shares. The company has a market capitalization of $30.18 billion, a PE ratio of 21.89 and a beta of 0.25. Exelon Corp. has a 12-month low of $25.09 and a 12-month high of $37.70. The company has a 50 day moving average of $33.61 and a 200 day moving average of $34.80.
Exelon Corp. (NYSE:EXC) last announced its quarterly earnings data on Tuesday, August 9th. The energy giant reported $0.65 EPS for the quarter, beating the consensus estimate of $0.56 by $0.09. Exelon Corp. had a net margin of 4.58% and a return on equity of 8.52%. The business earned $6.90 billion during the quarter, compared to the consensus estimate of $7.30 billion. During the same period in the previous year, the business earned $0.59 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts expect that Exelon Corp. will post $2.55 earnings per share for the current year.
EXC has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their target price on Exelon Corp. from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, August 16th. Bank of America Corp. reissued a “hold” rating and issued a $37.00 target price on shares of Exelon Corp. in a report on Thursday, August 11th. Deutsche Bank AG raised Exelon Corp. from a “hold” rating to a “buy” rating and increased their target price for the stock from $36.00 to $39.00 in a report on Friday, July 22nd. Morgan Stanley set a $38.00 target price on Exelon Corp. and gave the stock a “hold” rating in a report on Thursday, August 11th. Finally, Jefferies Group reissued a “buy” rating and issued a $40.00 target price on shares of Exelon Corp. in a report on Friday, August 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.33.
In other Exelon Corp. news, CEO Calvin Butler, Jr. sold 6,403 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $35.00, for a total transaction of $224,105.00. Following the completion of the transaction, the chief executive officer now directly owns 18,109 shares in the company, valued at $633,815. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.80% of the company’s stock.
About Exelon Corp.
Exelon Corporation is a utility services holding company. The Company operates through nine segments consisting of Exelon Generation Company, LLC’s (Generation’s) six power marketing segments, including Mid-Atlantic, Midwest, New England, New York, ERCOT and other regions; Commonwealth Edison Company (ComEd); PECO Energy Company (PECO), and Baltimore Gas and Electric Company (BGE).
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