Granite Bay Wealth Management LLC bought a new position in Exelon Co. (NASDAQ:EXC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,900 shares of the company's stock, valued at approximately $698,000.
Several other large investors have also bought and sold shares of EXC. The Manufacturers Life Insurance Company raised its holdings in Exelon by 8.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,161,532 shares of the company's stock worth $41,699,000 after buying an additional 91,008 shares during the last quarter. Rafferty Asset Management LLC grew its stake in shares of Exelon by 36.9% in the fourth quarter. Rafferty Asset Management LLC now owns 415,907 shares of the company's stock worth $14,931,000 after acquiring an additional 112,065 shares during the period. Peapack Gladstone Financial Corp grew its stake in shares of Exelon by 2.4% in the fourth quarter. Peapack Gladstone Financial Corp now owns 32,095 shares of the company's stock worth $1,152,000 after acquiring an additional 761 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of Exelon in the fourth quarter worth approximately $201,000. Finally, First Trust Advisors LP grew its stake in shares of Exelon by 11.9% in the fourth quarter. First Trust Advisors LP now owns 3,096,839 shares of the company's stock worth $111,177,000 after acquiring an additional 328,785 shares during the period. 80.92% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:EXC opened at $40.77 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 0.93. Exelon Co. has a 1-year low of $33.35 and a 1-year high of $41.48. The company has a market capitalization of $40.79 billion, a P/E ratio of 17.57, a P/E/G ratio of 2.89 and a beta of 0.53. The firm's 50 day simple moving average is $38.43 and its two-hundred day simple moving average is $37.23.
Exelon (NASDAQ:EXC - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. Exelon had a net margin of 10.65% and a return on equity of 9.40%. The business had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $4.98 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Research analysts expect that Exelon Co. will post 2.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Monday, August 12th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Monday, August 12th. Exelon's dividend payout ratio (DPR) is presently 65.52%.
EXC has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Exelon from $42.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. UBS Group lifted their price target on shares of Exelon from $40.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday, September 20th. Barclays lifted their price target on shares of Exelon from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Monday, July 22nd. Jefferies Financial Group initiated coverage on shares of Exelon in a research report on Thursday, September 19th. They set a "buy" rating and a $46.00 target price for the company. Finally, Scotiabank boosted their target price on shares of Exelon from $37.00 to $40.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Exelon currently has an average rating of "Hold" and a consensus price target of $41.08.
Check Out Our Latest Analysis on Exelon
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.
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