First Citizens Bank & Trust Co. decreased its position in shares of Exelon Corp. (NYSE:EXC) by 39.7% during the second quarter, Holdings Channel reports. The fund owned 176,890 shares of the energy giant’s stock after selling 116,507 shares during the period. First Citizens Bank & Trust Co.’s holdings in Exelon Corp. were worth $6,432,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in EXC. CT Financial Advisors LLC raised 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 worth $149,000 after buying an additional 11 shares in the last quarter. Peapack Gladstone Financial Corp raised its position in Exelon Corp. by 0.7% in the first quarter. Peapack Gladstone Financial Corp now owns 8,261 shares of the energy giant’s stock worth $296,000 after buying an additional 55 shares in the last quarter. FirstMerit Bank N A Trustee raised 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 worth $542,000 after buying an additional 88 shares in the last quarter. DAVENPORT & Co LLC raised 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 worth $281,000 after buying an additional 93 shares in the last quarter. Finally, Cornerstone Investment Partners LLC raised 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 worth $359,000 after buying an additional 100 shares in the last quarter. 74.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Exelon Corp. (NYSE:EXC) traded up 0.59% on Friday, hitting $32.25. The stock had a trading volume of 3,711,582 shares. Exelon Corp. has a 12 month low of $25.09 and a 12 month high of $37.70. The stock has a 50 day moving average of $33.91 and a 200-day moving average of $34.89. The stock has a market cap of $29.76 billion, a PE ratio of 21.59 and a beta of 0.25.
Exelon Corp. (NYSE:EXC) last released its earnings results on Tuesday, August 9th. The energy giant reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.09. The company earned $6.90 billion during the quarter, compared to analysts’ expectations of $7.30 billion. Exelon Corp. had a return on equity of 8.52% and a net margin of 4.58%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. Equities research analysts anticipate that Exelon Corp. will post $2.55 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 15th were paid a $0.318 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Thursday, August 11th. Exelon Corp.’s payout ratio is presently 84.67%.
A number of equities analysts recently commented on EXC shares. Barclays PLC cut their price objective on Exelon Corp. from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 31st. Citigroup Inc. lifted their target price on Exelon Corp. from $27.00 to $29.00 and gave the stock a “sell” rating in a report on Wednesday, July 20th. Zacks Investment Research downgraded Exelon Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Deutsche Bank AG lifted their target price on Exelon Corp. from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. Finally, Jefferies Group reiterated a “buy” rating and issued a $40.00 target price on shares of Exelon Corp. in a report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $36.60.
In other news, CEO Kenneth W. Cornew sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $36.47, for a total value of $1,094,100.00. Following the completion of the transaction, the chief executive officer now owns 32,844 shares in the company, valued at approximately $1,197,820.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Calvin Butler, Jr. sold 6,403 shares of the firm’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 value of $224,105.00. Following the completion of the transaction, the chief executive officer now owns 18,109 shares of the company’s stock, valued at approximately $633,815. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.
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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