Municipal Employees Retirement System of Michigan raised its stake in shares of Exelon Co. (NYSE:EXC) by 13.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 48,480 shares of the energy giant’s stock after buying an additional 5,740 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Exelon were worth $1,910,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of EXC. Geode Capital Management LLC boosted its holdings in Exelon by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 10,305,203 shares of the energy giant’s stock worth $405,288,000 after buying an additional 197,616 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Exelon by 3.1% during the 3rd quarter. Wells Fargo & Company MN now owns 9,402,609 shares of the energy giant’s stock worth $354,196,000 after purchasing an additional 280,855 shares during the last quarter. CI Global Investments Inc. boosted its holdings in shares of Exelon by 71.9% during the 4th quarter. CI Global Investments Inc. now owns 8,297,053 shares of the energy giant’s stock worth $326,987,000 after purchasing an additional 3,470,082 shares during the last quarter. Capital International Investors boosted its holdings in shares of Exelon by 20.6% during the 3rd quarter. Capital International Investors now owns 8,290,800 shares of the energy giant’s stock worth $312,314,000 after purchasing an additional 1,415,400 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Exelon by 19.2% during the 4th quarter. Jennison Associates LLC now owns 7,704,703 shares of the energy giant’s stock worth $303,642,000 after purchasing an additional 1,242,889 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.
Shares of Exelon stock traded down $0.37 during trading hours on Friday, reaching $38.63. 3,475,642 shares of the company were exchanged, compared to its average volume of 6,226,389. Exelon Co. has a 1 year low of $33.30 and a 1 year high of $42.67. The company has a current ratio of 1.10, a quick ratio of 0.94 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $37,279.07, a P/E ratio of 14.86, a P/E/G ratio of 2.52 and a beta of 0.16.
Exelon (NYSE:EXC) last posted its quarterly earnings data on Wednesday, February 7th. The energy giant reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Exelon had a return on equity of 8.35% and a net margin of 11.53%. The company had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the prior year, the company posted $0.44 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. sell-side analysts predict that Exelon Co. will post 3.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Thursday, February 15th were paid a dividend of $0.345 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.57%. This is an increase from Exelon’s previous quarterly dividend of $0.33. Exelon’s payout ratio is presently 53.08%.
Several research analysts have recently weighed in on the company. UBS assumed coverage on Exelon in a report on Friday, February 2nd. They set a “buy” rating and a $44.00 target price on the stock. Zacks Investment Research cut Exelon from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Mizuho raised shares of Exelon from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $36.00 to $40.00 in a research report on Tuesday, January 23rd. Morgan Stanley reduced their price target on shares of Exelon from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 price target on shares of Exelon in a research report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $41.41.
In related news, CEO Calvin Butler, Jr. sold 25,000 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $37.94, for a total transaction of $948,500.00. Following the completion of the transaction, the chief executive officer now owns 19,429 shares in the company, valued at $737,136.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.
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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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