CI Investments Inc. lessened its holdings in Exelon Co. (NYSE:EXC) by 99.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,891 shares of the energy giant’s stock after selling 1,770,391 shares during the quarter. CI Investments Inc.’s holdings in Exelon were worth $389,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in EXC. Assenagon Asset Management S.A. bought a new stake in shares of Exelon in the second quarter worth $2,448,000. Cerebellum GP LLC bought a new position in Exelon in the 2nd quarter valued at approximately $122,000. Janney Montgomery Scott LLC raised its holdings in Exelon by 12.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 148,804 shares of the energy giant’s stock valued at $5,400,000 after buying an additional 17,043 shares during the last quarter. Strs Ohio raised its holdings in Exelon by 0.5% in the 2nd quarter. Strs Ohio now owns 521,797 shares of the energy giant’s stock valued at $18,936,000 after buying an additional 2,604 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its holdings in Exelon by 1.3% in the 2nd quarter. Gulf International Bank UK Ltd now owns 243,768 shares of the energy giant’s stock valued at $8,846,000 after buying an additional 3,011 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.
NYSE EXC opened at $41.87 on Friday. The company has a fifty day simple moving average of $40.99 and a 200 day simple moving average of $38.21. Exelon Co. has a 12-month low of $29.28 and a 12-month high of $50.54. The company has a current ratio of 0.90, a quick ratio of 0.77 and a debt-to-equity ratio of 0.95. The company has a market cap of $40.85 billion, a P/E ratio of 13.42, a PEG ratio of 4.50 and a beta of 0.26.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be given a $0.3825 dividend. This represents a $1.53 annualized dividend and a yield of 3.65%. The ex-dividend date is Friday, November 13th. Exelon’s payout ratio is currently 49.04%.
EXC has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Exelon from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, November 17th. TheStreet upgraded shares of Exelon from a “c+” rating to a “b-” rating in a report on Wednesday, October 14th. Wells Fargo & Company lowered their price target on shares of Exelon from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, August 24th. Zacks Investment Research upgraded shares of Exelon from a “sell” rating to a “hold” rating and set a $39.00 price target for the company in a report on Tuesday, October 6th. Finally, Bank of America downgraded shares of Exelon from a “neutral” rating to an “underperform” rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $45.00.
In related news, CEO Carim V. Khouzami sold 6,800 shares of Exelon stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $38.00, for a total value of $258,400.00. Following the completion of the sale, the chief executive officer now owns 8,872 shares of the company’s stock, valued at approximately $337,136. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.
Exelon Corporation, a utility services holding company, engages in the generation and marketing of energy in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, biomass, and solar generating facilities. The company also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.
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