Squar Milner Financial Services LLC increased its stake in Exelon Co. (NYSE:EXC) by 201.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,114 shares of the energy giant’s stock after purchasing an additional 4,087 shares during the quarter. Squar Milner Financial Services LLC’s holdings in Exelon were worth $267,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. California Public Employees Retirement System grew its position in shares of Exelon by 26.1% in the second quarter. California Public Employees Retirement System now owns 3,106,660 shares of the energy giant’s stock valued at $132,344,000 after purchasing an additional 643,409 shares in the last quarter. BlackRock Inc. grew its position in shares of Exelon by 1.0% in the second quarter. BlackRock Inc. now owns 71,949,812 shares of the energy giant’s stock valued at $3,065,064,000 after purchasing an additional 721,483 shares in the last quarter. AE Wealth Management LLC purchased a new position in shares of Exelon in the second quarter valued at $270,000. ING Groep NV grew its position in shares of Exelon by 295.3% in the second quarter. ING Groep NV now owns 110,757 shares of the energy giant’s stock valued at $4,718,000 after purchasing an additional 82,738 shares in the last quarter. Finally, Twin Capital Management Inc. grew its position in shares of Exelon by 0.8% in the second quarter. Twin Capital Management Inc. now owns 223,710 shares of the energy giant’s stock valued at $9,530,000 after purchasing an additional 1,830 shares in the last quarter. Institutional investors own 78.91% of the company’s stock.
Exelon stock traded up $0.46 during midday trading on Monday, hitting $44.08. 7,004,605 shares of the company’s stock were exchanged, compared to its average volume of 6,059,683. Exelon Co. has a 52-week low of $35.57 and a 52-week high of $45.05. The company has a quick ratio of 1.03, a current ratio of 1.19 and a debt-to-equity ratio of 1.02. The stock has a market cap of $42.13 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.47 and a beta of 0.24.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 15th will be issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Wednesday, November 14th. Exelon’s payout ratio is currently 53.08%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Exelon from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Monday. JPMorgan Chase & Co. cut Exelon from an “overweight” rating to a “neutral” rating and set a $48.00 target price for the company. in a research report on Tuesday, October 9th. Scotiabank restated a “sector outperform” rating on shares of Exelon in a research report on Wednesday, July 25th. Macquarie boosted their target price on Exelon from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, September 24th. Finally, KeyCorp boosted their target price on Exelon from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, August 17th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $45.61.
Exelon Company Profile
Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. The company owns electric generating facilities, such as nuclear, fossil, wind, hydroelectric, and solar generating facilities. It also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.
Further Reading: Cash Flow
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