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Ingalls & Snyder LLC Trims Stake in Exelon Co. (NASDAQ:EXC)

Financial News Live · Aug 8, 2022 09:51

Ingalls & Snyder LLC trimmed its stake in Exelon Co. (NASDAQ:EXC – Get Rating) by 9.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,424 shares of the company's stock after selling 1,876 shares during the period. Ingalls & Snyder LLC's holdings in Exelon were worth $878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Exelon by 18.5% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 514,877 shares of the company's stock worth $29,384,000 after purchasing an additional 80,484 shares in the last quarter. IFM Investors Pty Ltd increased its stake in shares of Exelon by 19.7% in the 1st quarter. IFM Investors Pty Ltd now owns 153,536 shares of the company's stock worth $7,313,000 after purchasing an additional 25,284 shares in the last quarter. Whittier Trust Co. increased its stake in shares of Exelon by 13.8% in the 1st quarter. Whittier Trust Co. now owns 8,178 shares of the company's stock worth $390,000 after purchasing an additional 991 shares in the last quarter. Modera Wealth Management LLC purchased a new stake in shares of Exelon in the 4th quarter worth $263,000. Finally, Advisor Group Holdings Inc. increased its stake in shares of Exelon by 48.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 248,754 shares of the company's stock worth $10,534,000 after purchasing an additional 80,702 shares in the last quarter. 80.35% of the stock is currently owned by hedge funds and other institutional investors.

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Exelon Stock Down 0.6 %

Shares of NASDAQ EXC opened at $44.77 on Monday. The firm's 50-day moving average price is $44.83 and its 200-day moving average price is $46.07. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $43.88 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 2.77 and a beta of 0.57. Exelon Co. has a 12-month low of $33.64 and a 12-month high of $50.71.

Exelon (NASDAQ:EXC – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the business earned $0.89 earnings per share. On average, equities research analysts anticipate that Exelon Co. will post 2.27 EPS for the current fiscal year.

Exelon Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be given a $0.338 dividend. This is a positive change from Exelon's previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, August 12th. Exelon's dividend payout ratio is 49.82%.

Insider Transactions at Exelon

In other news, CEO John Tyler Anthony sold 4,451 shares of the firm's stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $47.49, for a total transaction of $211,377.99. Following the transaction, the chief executive officer now directly owns 974 shares of the company's stock, valued at $46,255.26. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Analyst Ratings Changes

EXC has been the subject of several recent analyst reports. Barclays dropped their target price on shares of Exelon from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Monday, July 18th. 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 report on Thursday. Argus upped their target price on shares of Exelon from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, June 8th. KeyCorp dropped their target price on shares of Exelon from $53.00 to $45.00 and set an "overweight" rating for the company in a report on Tuesday, July 19th. Finally, Wells Fargo & Company dropped their target price on shares of Exelon from $52.00 to $49.00 and set an "equal weight" rating for the company in a report on Thursday. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.15.

Exelon Company 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.