Simplicity Solutions LLC Sells 847 Shares of Exelon Co. (NASDAQ:EXC)

Posted by Defense World Staff on Apr 25th, 2023

Simplicity Solutions LLC trimmed its holdings in shares of Exelon Co. (NASDAQ:EXC – Get Rating) by 13.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,591 shares of the company’s stock after selling 847 shares during the period. Simplicity Solutions LLC’s holdings in Exelon were worth $242,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EXC. Price T Rowe Associates Inc. MD increased its stake in Exelon by 487.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,930,788 shares of the company’s stock valued at $446,929,000 after purchasing an additional 9,899,186 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in Exelon in the third quarter valued at approximately $123,920,000. Vanguard Group Inc. increased its stake in Exelon by 2.6% in the third quarter. Vanguard Group Inc. now owns 90,274,402 shares of the company’s stock valued at $3,381,678,000 after purchasing an additional 2,279,491 shares in the last quarter. Bank of Montreal Can increased its stake in Exelon by 88.0% in the third quarter. Bank of Montreal Can now owns 4,276,029 shares of the company’s stock valued at $163,231,000 after purchasing an additional 2,002,148 shares in the last quarter. Finally, Pictet Asset Management SA increased its stake in Exelon by 28.7% in the third quarter. Pictet Asset Management SA now owns 6,860,069 shares of the company’s stock valued at $256,979,000 after purchasing an additional 1,531,782 shares in the last quarter. Institutional investors own 80.60% of the company’s stock.

Insider Activity

In related news, CEO Carim V. Khouzami sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $41.65, for a total transaction of $249,900.00. Following the transaction, the chief executive officer now directly owns 4,498 shares of the company’s stock, valued at $187,341.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EXC shares. BMO Capital Markets lowered 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. Credit Suisse Group upped their price target on shares of Exelon from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, January 23rd. Morgan Stanley upped their price target on shares of Exelon from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. StockNews.com cut shares of Exelon from a “hold” rating to a “sell” rating in a report on Tuesday, April 4th. Finally, Wells Fargo & Company reduced their price target on shares of Exelon from $47.00 to $45.00 in a report on Wednesday, February 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $45.80.

Exelon Stock Performance

Shares of EXC opened at $43.45 on Tuesday. The stock has a market capitalization of $43.19 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.74 and a beta of 0.61. The company has a current ratio of 0.69, a quick ratio of 0.62 and a debt-to-equity ratio of 1.44. The firm has a fifty day simple moving average of $41.92 and a 200 day simple moving average of $41.82. Exelon Co. has a 12 month low of $35.19 and a 12 month high of $49.86.

Exelon (NASDAQ:EXC – Get Rating) last announced its quarterly earnings results on Tuesday, February 14th. The company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $4.67 billion during 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 revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. Research analysts forecast that Exelon Co. will post 2.36 EPS for the current fiscal year.

Exelon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Monday, February 27th were given a $0.36 dividend. The ex-dividend date was Friday, February 24th. This is a positive change from Exelon’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 3.31%. Exelon’s dividend payout ratio 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).

Institutional Ownership by Quarter for Exelon (NASDAQ:EXC)

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