Apollon Wealth Management LLC increased its position in shares of Exelon Co. (NASDAQ:EXC – Get Rating) by 30.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,083 shares of the company’s stock after acquiring an additional 2,139 shares during the quarter. Apollon Wealth Management LLC’s holdings in Exelon were worth $412,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of EXC. GoalVest Advisory LLC lifted its stake in Exelon by 62,900.0% in the second quarter. GoalVest Advisory LLC now owns 630 shares of the company’s stock valued at $27,000 after buying an additional 629 shares in the last quarter. Princeton Global Asset Management LLC lifted its stake in Exelon by 195.5% in the first quarter. Princeton Global Asset Management LLC now owns 662 shares of the company’s stock valued at $32,000 after buying an additional 438 shares in the last quarter. Hallmark Capital Management Inc. bought a new position in Exelon in the second quarter valued at approximately $32,000. Prentice Wealth Management LLC bought a new position in Exelon in the second quarter valued at approximately $36,000. Finally, ACG Wealth bought a new position in Exelon in the second quarter valued at approximately $38,000. Institutional investors own 82.70% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on EXC shares. Guggenheim cut their price target on shares of Exelon from $49.00 to $40.00 in a research note on Monday, October 24th. Morgan Stanley boosted their price objective on shares of Exelon from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 11th. BMO Capital Markets cut their price objective on shares of Exelon from $51.00 to $41.00 in a research report on Tuesday, October 18th. Seaport Res Ptn reissued a “buy” rating on shares of Exelon in a research report on Monday, October 24th. Finally, StockNews.com initiated coverage on shares of Exelon in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.00.
Exelon Price Performance
Exelon (NASDAQ:EXC – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. Exelon had a net margin of 8.85% and a return on equity of 10.12%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $5.69 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s quarterly revenue was down 45.6% on a year-over-year basis. Equities analysts expect that Exelon Co. will post 2.27 earnings per share for the current year.
Exelon Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th will be issued a $0.3375 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.35 annualized dividend and a dividend yield of 3.39%. Exelon’s dividend payout ratio is currently 62.50%.
Exelon Corporation, a utility services holding company, engages in the energy generation, delivery, and marketing businesses 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.
- Get a free copy of the StockNews.com research report on Exelon (EXC)
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