ICICI Prudential Asset Management Co Ltd Raises Stock Holdings in Exelon Co. (NASDAQ:EXC)

ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Exelon Co. (NASDAQ:EXCGet Rating) by 16.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,818 shares of the company’s stock after acquiring an additional 404 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Exelon were worth $133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GQG Partners LLC bought a new position in Exelon during the fourth quarter valued at $207,785,000. Norges Bank bought a new position in shares of Exelon in the fourth quarter worth $192,435,000. Ceredex Value Advisors LLC bought a new position in shares of Exelon in the first quarter worth $76,146,000. Renaissance Technologies LLC bought a new position in shares of Exelon in the fourth quarter worth $50,289,000. Finally, State Street Corp boosted its holdings in shares of Exelon by 1.5% in the fourth quarter. State Street Corp now owns 59,727,079 shares of the company’s stock worth $3,449,836,000 after acquiring an additional 861,513 shares during the period. 80.35% of the stock is owned by hedge funds and other institutional investors.

Exelon Stock Down 0.6 %

EXC opened at $44.77 on Friday. The company has a market cap of $43.88 billion, a P/E ratio of 16.52, a P/E/G ratio of 2.79 and a beta of 0.57. The business’s 50-day moving average price is $44.83 and its 200-day moving average price is $46.14. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. Exelon Co. has a 12 month low of $33.64 and a 12 month high of $50.71.

Exelon (NASDAQ:EXCGet Rating) last released 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). Exelon had a return on equity of 10.38% and a net margin of 9.45%. During the same period in the previous year, the company posted $0.89 earnings per share. On average, equities analysts expect that Exelon Co. will post 2.27 EPS for the current year.

Exelon Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be issued a $0.338 dividend. The ex-dividend date is Friday, August 12th. This represents a $1.35 annualized dividend and a dividend yield of 3.02%. This is an increase from Exelon’s previous quarterly dividend of $0.34. Exelon’s payout ratio is currently 49.82%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EXC shares. Argus raised their price target on Exelon from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, June 8th. UBS Group cut their price target on Exelon from $54.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, June 30th. KeyCorp cut their price target on Exelon from $53.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Morgan Stanley lowered their price objective on Exelon from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Finally, BMO Capital Markets increased their price objective on Exelon from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.15.

Insider Transactions at Exelon

In related news, CEO John Tyler Anthony sold 4,451 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $47.49, for a total value of $211,377.99. Following the sale, the chief executive officer now directly owns 974 shares of the company’s stock, valued at $46,255.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Exelon Profile

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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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Institutional Ownership by Quarter for Exelon (NASDAQ:EXC)

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