Parkside Financial Bank & Trust reduced its position in shares of Exelon Co. (NASDAQ:EXC – Get Rating) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,579 shares of the company’s stock after selling 559 shares during the period. Parkside Financial Bank & Trust’s holdings in Exelon were worth $267,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in EXC. Bank of New York Mellon Corp grew its position in shares of Exelon by 61.0% during the 1st quarter. Bank of New York Mellon Corp now owns 32,199,539 shares of the company’s stock valued at $1,533,663,000 after purchasing an additional 12,205,179 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Exelon during the 4th quarter valued at $207,785,000. Norges Bank purchased a new position in Exelon in the fourth quarter worth $192,435,000. Vanguard Group Inc. grew its position in Exelon by 2.8% in the first quarter. Vanguard Group Inc. now owns 86,862,993 shares of the company’s stock worth $4,137,284,000 after acquiring an additional 2,365,787 shares in the last quarter. Finally, BlackRock Inc. grew its position in Exelon by 2.4% in the first quarter. BlackRock Inc. now owns 77,171,172 shares of the company’s stock worth $3,675,664,000 after acquiring an additional 1,794,762 shares in the last quarter. 82.70% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Exelon from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Mizuho upped their target price on shares of Exelon from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, August 31st. UBS Group cut their target price on shares of Exelon from $54.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Morgan Stanley cut their target price on shares of Exelon from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Finally, Wells Fargo & Company cut their target price on shares of Exelon from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 4th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Exelon currently has an average rating of “Moderate Buy” and a consensus price target of $48.23.
Exelon Stock Performance
Exelon (NASDAQ:EXC – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.12 billion. Exelon had a net margin of 9.45% and a return on equity of 10.38%. Research analysts expect that Exelon Co. will post 2.27 EPS for the current year.
Exelon Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be paid a dividend of $0.338 per share. This represents a $1.35 annualized dividend and a dividend yield of 2.98%. This is an increase from Exelon’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, August 12th. Exelon’s dividend payout ratio is 49.82%.
Exelon Corporation, a utility services holding company, engages in the energy generation, delivery, and marketing businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, biomass, and solar generating facilities. The company also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.
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