Meiji Yasuda Asset Management Co Ltd. trimmed its holdings in Exelon Co. (NASDAQ:EXC – Get Rating) by 3.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 28,385 shares of the company’s stock after selling 890 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Exelon were worth $1,063,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Sandia Investment Management LP acquired a new stake in Exelon in the third quarter worth about $187,000. United Services Automobile Association increased its position in Exelon by 10.4% in the third quarter. United Services Automobile Association now owns 39,594 shares of the company’s stock worth $1,484,000 after purchasing an additional 3,732 shares during the period. BNP Paribas Arbitrage SNC increased its position in Exelon by 38.6% in the third quarter. BNP Paribas Arbitrage SNC now owns 870,095 shares of the company’s stock worth $32,594,000 after purchasing an additional 242,229 shares during the period. Neo Ivy Capital Management increased its position in Exelon by 134.7% in the third quarter. Neo Ivy Capital Management now owns 4,244 shares of the company’s stock worth $159,000 after purchasing an additional 2,436 shares during the period. Finally, Tiemann Investment Advisors LLC increased its position in Exelon by 6.7% in the third quarter. Tiemann Investment Advisors LLC now owns 8,015 shares of the company’s stock worth $300,000 after purchasing an additional 500 shares during the period. 80.60% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently commented on EXC shares. BMO Capital Markets lowered 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. Wells Fargo & Company decreased their target price on Exelon from $47.00 to $45.00 in a research report on Wednesday, February 15th. Morgan Stanley boosted their target price on Exelon from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, December 15th. Finally, Credit Suisse Group boosted their target price on Exelon from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, January 23rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.64.
Exelon Price Performance
Exelon (NASDAQ:EXC – Get Rating) last released its earnings results on Tuesday, February 14th. The company reported $0.43 EPS for the quarter, meeting 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 return on equity of 9.30% and a net margin of 11.37%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. Sell-side analysts predict that Exelon Co. will post 2.35 EPS for the current fiscal year.
Exelon Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Monday, February 27th were paid a $0.36 dividend. This is a boost from Exelon’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, February 24th. This represents a $1.44 annualized dividend and a yield of 3.48%. Exelon’s payout ratio is presently 65.75%.
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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