CIBC Asset Management Inc raised its holdings in shares of Exelon Corporation (NASDAQ:EXC – Free Report) by 35.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 423,587 shares of the company’s stock after buying an additional 111,191 shares during the quarter. CIBC Asset Management Inc’s holdings in Exelon were worth $18,464,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Exelon by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 131,118,541 shares of the company’s stock worth $5,715,457,000 after purchasing an additional 595,555 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Exelon by 32.9% during the third quarter. Lazard Asset Management LLC now owns 22,446,103 shares of the company’s stock valued at $1,010,299,000 after buying an additional 5,554,494 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Exelon by 2.2% in the third quarter. Wellington Management Group LLP now owns 18,663,481 shares of the company’s stock valued at $840,043,000 after buying an additional 393,917 shares during the period. Invesco Ltd. lifted its stake in shares of Exelon by 5.6% in the third quarter. Invesco Ltd. now owns 15,659,308 shares of the company’s stock valued at $704,825,000 after buying an additional 833,171 shares during the period. Finally, Norges Bank acquired a new stake in Exelon during the fourth quarter worth about $617,974,000. 80.92% of the stock is owned by institutional investors.
Exelon Stock Performance
NASDAQ:EXC opened at $44.63 on Friday. The firm has a market capitalization of $45.67 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.61 and a beta of 0.31. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.65. Exelon Corporation has a 12-month low of $42.11 and a 12-month high of $50.65. The firm has a 50-day moving average price of $46.56 and a 200 day moving average price of $46.00.
Exelon Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, June 4th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, June 4th. Exelon’s dividend payout ratio is 61.54%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on EXC. Scotiabank boosted their price target on Exelon from $46.00 to $47.00 and gave the company a “sector perform” rating in a research note on Friday, February 13th. Morgan Stanley decreased their price objective on Exelon from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. BMO Capital Markets restated a “market perform” rating and set a $49.00 price objective (down from $52.00) on shares of Exelon in a research report on Friday, April 17th. Barclays lowered Exelon from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $50.00 to $49.00 in a research note on Friday, April 17th. Finally, Wall Street Zen raised Exelon from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.27.
Get Our Latest Stock Analysis on Exelon
Exelon Company Profile
Exelon Corporation (NASDAQ: EXC) is a Chicago-based energy company that operates primarily as a regulated electric and natural gas utility holding company. The company’s businesses focus on the delivery of electricity and related services to residential, commercial and industrial customers, as well as investments in grid modernization, customer energy solutions and demand-side programs. Exelon’s operations emphasize reliable service delivery, infrastructure maintenance and regulatory compliance across its utility footprint.
Formed in 2000 through the merger of Unicom and PECO Energy, Exelon historically combined generation and regulated utility businesses.
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