State of Michigan Retirement System grew its position in shares of Exelon Co. (NASDAQ:EXC – Get Rating) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,103 shares of the company’s stock after purchasing an additional 1,700 shares during the period. State of Michigan Retirement System’s holdings in Exelon were worth $11,677,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Cowa LLC acquired a new stake in Exelon in the 3rd quarter valued at about $26,000. Independence Bank of Kentucky boosted its holdings in shares of Exelon by 133.3% in the 4th quarter. Independence Bank of Kentucky now owns 700 shares of the company’s stock valued at $30,000 after buying an additional 400 shares in the last quarter. First Financial Corp IN boosted its stake in Exelon by 47.0% in the fourth quarter. First Financial Corp IN now owns 735 shares of the company’s stock valued at $32,000 after acquiring an additional 235 shares in the last quarter. Affiance Financial LLC purchased a new position in Exelon during the 4th quarter worth approximately $32,000. Finally, Moisand Fitzgerald Tamayo LLC grew its position in shares of Exelon by 48.2% during the fourth quarter. Moisand Fitzgerald Tamayo LLC now owns 815 shares of the company’s stock worth $35,000 after acquiring an additional 265 shares during the last quarter. 80.60% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have weighed in on EXC shares. Credit Suisse Group increased their price objective on Exelon from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, January 23rd. Morgan Stanley reduced their price objective on Exelon from $49.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, March 21st. Wells Fargo & Company reduced their price target on shares of Exelon from $47.00 to $45.00 in a report on Wednesday, February 15th. Finally, BMO Capital Markets dropped their price objective on Exelon from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, February 15th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.36.
Exelon Stock Up 0.3 %
Exelon (NASDAQ:EXC – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. Exelon had a net margin of 11.37% and a return on equity of 9.30%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter last year, the business earned $0.90 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Exelon Co. will post 2.35 EPS for the current year.
Exelon Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Monday, February 27th were paid a $0.36 dividend. This is an increase from Exelon’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 3.34%. The ex-dividend date was Friday, February 24th. Exelon’s dividend payout ratio is currently 65.75%.
Insider Activity at Exelon
In other news, CEO Carim V. Khouzami sold 6,000 shares of the business’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $41.65, for a total value of $249,900.00. Following the completion of the sale, the chief executive officer now directly owns 4,498 shares in the company, valued at $187,341.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by insiders.
Exelon Profile
Exelon Corp. is a utility services holding company, which engages in the energy distribution and transmission businesses. It operates through the following segments: Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL), and Atlantic City Electric Company (ACE).
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