Concord Wealth Partners Purchases Shares of 660 Exelon Co. (NASDAQ:EXC)

Posted by Defense World Staff on Apr 15th, 2023

Concord Wealth Partners purchased a new stake in shares of Exelon Co. (NASDAQ:EXC – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 660 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EXC. Cowa LLC bought a new position in Exelon in the 3rd quarter valued at about $26,000. Independence Bank of Kentucky lifted its stake in shares of Exelon by 133.3% in the 4th quarter. Independence Bank of Kentucky now owns 700 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the period. First Financial Corp IN boosted its holdings in shares of 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 acquired a new position in shares of Exelon during the fourth quarter valued at approximately $32,000. Finally, Moisand Fitzgerald Tamayo LLC raised its holdings in 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 purchasing an additional 265 shares in the last quarter. 80.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXC has been the subject of a number of research reports. Morgan Stanley decreased their price target on Exelon from $49.00 to $46.00 and set an “overweight” rating for the company in a research note on Tuesday, March 21st. Credit Suisse Group boosted their price target on shares of Exelon from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, January 23rd. Wells Fargo & Company cut their price target on shares of Exelon from $47.00 to $45.00 in a report on Wednesday, February 15th. StockNews.com cut shares of Exelon from a “hold” rating to a “sell” rating in a research note on Tuesday, April 4th. Finally, BMO Capital Markets cut their target price on shares of Exelon from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, February 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Exelon currently has an average rating of “Moderate Buy” and an average price target of $46.36.

Insider Buying and Selling at Exelon

In other Exelon news, CEO Carim V. Khouzami sold 6,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 4,498 shares in the company, valued at approximately $187,341.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Exelon Stock Performance

Exelon stock opened at $42.13 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.69 and a quick ratio of 0.62. The company has a market cap of $41.88 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 2.76 and a beta of 0.61. Exelon Co. has a fifty-two week low of $35.19 and a fifty-two week high of $50.71. The firm’s 50 day simple moving average is $41.67 and its 200-day simple moving average is $41.85.

Exelon (NASDAQ:EXC – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.14 billion. Exelon had a net margin of 11.37% and a return on equity of 9.30%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. As a group, equities research 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. Shareholders of record on Monday, February 27th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, February 24th. This is a positive change from Exelon’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 3.42%. Exelon’s dividend payout ratio (DPR) is presently 65.75%.

About Exelon

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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).