Synovus Financial Corp Increases Stock Holdings in Exelon Co. (NASDAQ:EXC)

Synovus Financial Corp lifted its position in Exelon Co. (NASDAQ:EXC) by 70.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,649 shares of the company’s stock after purchasing an additional 7,713 shares during the quarter. Synovus Financial Corp’s holdings in Exelon were worth $756,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC boosted its stake in Exelon by 666.2% during the second quarter. Los Angeles Capital Management LLC now owns 3,583,477 shares of the company’s stock worth $124,024,000 after buying an additional 3,115,763 shares during the period. State Street Corp boosted its stake in Exelon by 3.7% during the third quarter. State Street Corp now owns 60,169,219 shares of the company’s stock worth $2,439,862,000 after buying an additional 2,156,259 shares during the period. FMR LLC boosted its stake in Exelon by 18.7% during the third quarter. FMR LLC now owns 11,782,549 shares of the company’s stock worth $477,782,000 after buying an additional 1,858,502 shares during the period. International Assets Investment Management LLC boosted its stake in Exelon by 4,103.5% during the third quarter. International Assets Investment Management LLC now owns 1,046,630 shares of the company’s stock worth $42,441,000 after buying an additional 1,021,731 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Exelon by 101.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,344,978 shares of the company’s stock worth $54,539,000 after buying an additional 678,490 shares during the period. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Exelon Stock Up 0.8 %

Shares of NASDAQ:EXC opened at $36.52 on Wednesday. The firm’s 50 day moving average price is $38.89 and its 200 day moving average price is $37.86. The stock has a market cap of $36.70 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 2.63 and a beta of 0.54. Exelon Co. has a fifty-two week low of $33.35 and a fifty-two week high of $41.19. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC) last issued its earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The firm had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Exelon had a net margin of 10.60% and a return on equity of 9.47%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. As a group, equities research analysts predict that Exelon Co. will post 2.45 earnings per share for the current fiscal year.

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 11th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.52 annualized dividend and a yield of 4.16%. Exelon’s dividend payout ratio (DPR) is 62.55%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of Exelon from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Barclays increased their target price on shares of Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. UBS Group increased their price target on shares of Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Jefferies Financial Group started coverage on shares of Exelon in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Finally, Scotiabank increased their price target on shares of Exelon from $40.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Exelon currently has a consensus rating of “Hold” and an average price target of $41.55.

About Exelon

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.