Resona Asset Management Co. Ltd. Increases Stock Position in Exelon Corporation (NASDAQ:EXC)

Resona Asset Management Co. Ltd. grew its stake in shares of Exelon Corporation (NASDAQ:EXC) by 8.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 335,698 shares of the company’s stock after buying an additional 25,550 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Exelon were worth $15,400,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in EXC. Ameriflex Group Inc. purchased a new stake in shares of Exelon during the 4th quarter valued at $25,000. Hazlett Burt & Watson Inc. grew its stake in shares of Exelon by 46.4% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 694 shares of the company’s stock valued at $32,000 after buying an additional 220 shares during the period. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Exelon during the 1st quarter valued at $34,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Exelon during the 1st quarter worth about $42,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Exelon during the 1st quarter worth about $50,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Guggenheim boosted their target price on Exelon from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. KeyCorp decreased their target price on Exelon from $39.00 to $37.00 and set an “underweight” rating for the company in a report on Wednesday, July 16th. BMO Capital Markets boosted their target price on Exelon from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Wells Fargo & Company boosted their target price on Exelon from $46.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Finally, Evercore ISI boosted their target price on Exelon from $48.00 to $51.00 and gave the stock an “in-line” rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Exelon has an average rating of “Hold” and an average price target of $47.20.

Exelon Stock Up 1.4%

NASDAQ EXC opened at $45.23 on Thursday. The stock has a market cap of $45.68 billion, a PE ratio of 17.20, a P/E/G ratio of 2.62 and a beta of 0.38. Exelon Corporation has a fifty-two week low of $35.94 and a fifty-two week high of $48.11. The business has a 50 day moving average price of $43.53 and a two-hundred day moving average price of $43.88. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.47 billion. Exelon had a return on equity of 9.85% and a net margin of 11.16%. Exelon’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS. As a group, sell-side analysts predict that Exelon Corporation will post 2.64 EPS for the current fiscal year.

Exelon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, August 11th. Exelon’s dividend payout ratio is presently 60.84%.

Exelon Profile

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.