Truist Financial Corp Sells 30,922 Shares of Exelon Co. (NASDAQ:EXC)

Truist Financial Corp lessened its stake in shares of Exelon Co. (NASDAQ:EXC) by 24.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,568 shares of the company’s stock after selling 30,922 shares during the quarter. Truist Financial Corp’s holdings in Exelon were worth $3,560,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. CIBC Asset Management Inc grew its stake in shares of Exelon by 4.0% in the fourth quarter. CIBC Asset Management Inc now owns 322,546 shares of the company’s stock worth $12,141,000 after purchasing an additional 12,308 shares during the last quarter. KLCM Advisors Inc. grew its stake in shares of Exelon by 32.5% in the fourth quarter. KLCM Advisors Inc. now owns 9,876 shares of the company’s stock worth $372,000 after purchasing an additional 2,423 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of Exelon by 175.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 4,404 shares of the company’s stock worth $166,000 after purchasing an additional 2,806 shares during the last quarter. Strategic Advisors LLC grew its stake in shares of Exelon by 43.3% in the fourth quarter. Strategic Advisors LLC now owns 12,048 shares of the company’s stock worth $453,000 after purchasing an additional 3,640 shares during the last quarter. Finally, WBH Advisory Inc. grew its stake in shares of Exelon by 17.9% in the fourth quarter. WBH Advisory Inc. now owns 10,184 shares of the company’s stock worth $383,000 after purchasing an additional 1,544 shares during the last quarter. Institutional investors own 80.92% of the company’s stock.

Exelon Price Performance

EXC stock opened at $43.35 on Tuesday. The company’s fifty day simple moving average is $39.56 and its 200 day simple moving average is $39.15. Exelon Co. has a 12-month low of $34.01 and a 12-month high of $44.01. The firm has a market cap of $43.58 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.86 and a beta of 0.56. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 1.61.

Exelon (NASDAQ:EXC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. Exelon had a net margin of 10.68% and a return on equity of 9.52%. During the same quarter last year, the company earned $0.60 EPS. On average, analysts expect that Exelon Co. will post 2.64 earnings per share for the current year.

Exelon Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.60 annualized dividend and a dividend yield of 3.69%. This is a positive change from Exelon’s previous quarterly dividend of $0.38. Exelon’s dividend payout ratio is currently 65.31%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EXC. Evercore ISI raised shares of Exelon from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $43.00 to $44.00 in a research note on Tuesday, January 21st. Guggenheim raised shares of Exelon from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays reduced their price objective on shares of Exelon from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. BMO Capital Markets restated an “outperform” rating on shares of Exelon in a report on Tuesday, February 4th. Finally, Morgan Stanley dropped their target price on shares of Exelon from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.38.

Insider Activity

In other news, EVP Colette D. Honorable sold 1,463 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $40.57, for a total transaction of $59,353.91. Following the completion of the sale, the executive vice president now directly owns 2,271 shares of the company’s stock, valued at $92,134.47. The trade was a 39.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.10% of the company’s stock.

Exelon Company Profile

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.