ClariVest Asset Management LLC trimmed its position in shares of Exelon (NYSE:EXC) by 8.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,277 shares of the energy giant’s stock after selling 2,033 shares during the period. ClariVest Asset Management LLC’s holdings in Exelon were worth $830,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. NuWave Investment Management LLC acquired a new stake in Exelon during the fourth quarter worth about $105,000. Delpha Capital Management LLC acquired a new stake in Exelon during the fourth quarter worth about $108,000. We Are One Seven LLC acquired a new stake in Exelon during the fourth quarter worth about $117,000. Baker Ellis Asset Management LLC acquired a new stake in Exelon during the fourth quarter worth about $118,000. Finally, Cerebellum GP LLC acquired a new stake in Exelon during the fourth quarter worth about $122,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.
EXC has been the topic of a number of analyst reports. Goldman Sachs upgraded shares of Exelon from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $33.30 to $43.00 in a research note on Wednesday, March 28th. Morgan Stanley increased their target price on shares of Exelon from $40.00 to $43.00 and gave the stock an “equal weight” rating in a report on Monday, April 16th. Zacks Investment Research cut shares of Exelon from a “buy” rating to a “hold” rating in a report on Tuesday, April 10th. SunTrust Banks set a $42.00 target price on shares of Exelon and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, Credit Suisse Group raised shares of Exelon to a “buy” rating and set a $42.00 target price for the company in a report on Saturday, April 14th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.43.
Exelon (NYSE:EXC) last issued its quarterly earnings data on Wednesday, May 2nd. The energy giant reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $9.69 billion during the quarter, compared to analyst estimates of $9.01 billion. Exelon had a net margin of 10.06% and a return on equity of 9.17%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. analysts anticipate that Exelon will post 3.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Tuesday, May 15th will be issued a $0.345 dividend. The ex-dividend date is Monday, May 14th. This represents a $1.38 dividend on an annualized basis and a yield of 3.48%. Exelon’s dividend payout ratio (DPR) is presently 53.08%.
In other Exelon news, CEO Calvin Butler, Jr. sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $37.94, for a total transaction of $948,500.00. Following the completion of the sale, the chief executive officer now owns 19,429 shares of the company’s stock, valued at approximately $737,136.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by company insiders.
Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. The company owns electric generating facilities, such as nuclear, fossil, wind, hydroelectric, and solar generating facilities. It 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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