Acadian Asset Management LLC Trims Stake in Exelon Co. (EXC)
Acadian Asset Management LLC lessened its holdings in Exelon Co. (NYSE:EXC) by 84.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,670 shares of the energy giant’s stock after selling 118,562 shares during the quarter. Acadian Asset Management LLC’s holdings in Exelon were worth $946,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Landaas & Co. WI ADV purchased a new position in Exelon in the second quarter valued at $116,000. CWM LLC increased its holdings in Exelon by 106.5% in the third quarter. CWM LLC now owns 2,653 shares of the energy giant’s stock valued at $116,000 after buying an additional 1,368 shares during the last quarter. Burt Wealth Advisors increased its holdings in Exelon by 81.6% in the third quarter. Burt Wealth Advisors now owns 2,884 shares of the energy giant’s stock valued at $126,000 after buying an additional 1,296 shares during the last quarter. TRUE Private Wealth Advisors purchased a new position in Exelon in the third quarter valued at $152,000. Finally, Tower Research Capital LLC TRC purchased a new position in Exelon in the second quarter valued at $160,000. 78.77% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on EXC. ValuEngine raised Exelon from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research raised Exelon from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Friday. SunTrust Banks reaffirmed a “hold” rating and set a $48.00 price objective on shares of Exelon in a report on Monday, December 3rd. Barclays raised their price objective on Exelon from $46.00 to $47.00 and gave the stock a “hold” rating in a report on Monday, November 19th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $46.00 price objective on shares of Exelon in a report on Wednesday, November 7th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $46.44.
Exelon (NYSE:EXC) last announced its earnings results on Thursday, November 1st. The energy giant reported $0.88 earnings per share for the quarter, hitting the consensus estimate of $0.88. Exelon had a net margin of 10.67% and a return on equity of 9.35%. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $8.74 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Exelon Co. will post 3.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.345 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.38 annualized dividend and a dividend yield of 2.94%. Exelon’s dividend payout ratio (DPR) is 53.08%.
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Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. The company owns electric generating facilities, such as nuclear, fossil, wind, hydroelectric, and solar generating facilities. It 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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