Magellan Asset Management Ltd Trims Stock Position in Exelon Co. (NASDAQ:EXC)

Magellan Asset Management Ltd trimmed its stake in shares of Exelon Co. (NASDAQ:EXC) by 16.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 759,455 shares of the company’s stock after selling 147,184 shares during the quarter. Magellan Asset Management Ltd owned about 0.08% of Exelon worth $28,586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of EXC. Huntington National Bank increased its stake in shares of Exelon by 2.3% during the fourth quarter. Huntington National Bank now owns 58,766 shares of the company’s stock worth $2,212,000 after acquiring an additional 1,337 shares during the period. Groupama Asset Managment boosted its holdings in Exelon by 122.4% in the 4th quarter. Groupama Asset Managment now owns 50,738 shares of the company’s stock valued at $1,909,000 after purchasing an additional 27,927 shares in the last quarter. Headlands Technologies LLC acquired a new position in Exelon during the 4th quarter worth approximately $4,319,000. Geode Capital Management LLC raised its stake in shares of Exelon by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 26,314,296 shares of the company’s stock worth $988,080,000 after buying an additional 368,505 shares in the last quarter. Finally, StoneX Group Inc. boosted its stake in shares of Exelon by 14.4% in the fourth quarter. StoneX Group Inc. now owns 36,753 shares of the company’s stock valued at $1,383,000 after buying an additional 4,613 shares in the last quarter. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Evercore ISI upgraded Exelon from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $43.00 to $44.00 in a research report on Tuesday, January 21st. UBS Group raised their price objective on shares of Exelon from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Scotiabank boosted their price objective on shares of Exelon from $42.00 to $44.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Guggenheim upgraded shares of Exelon from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley boosted their price target on Exelon from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.13.

Insider Transactions at Exelon

In related news, EVP Colette D. Honorable sold 1,463 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $40.57, for a total value of $59,353.91. Following the sale, the executive vice president now directly owns 2,271 shares of the company’s stock, valued at approximately $92,134.47. This trade represents a 39.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Exelon Price Performance

EXC stock opened at $45.97 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.78 and a current ratio of 0.87. The stock’s 50 day moving average price is $42.89 and its 200 day moving average price is $40.27. The firm has a market cap of $46.41 billion, a P/E ratio of 18.76, a PEG ratio of 2.86 and a beta of 0.51. Exelon Co. has a 1 year low of $34.01 and a 1 year high of $46.47.

Exelon (NASDAQ:EXC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Exelon had a return on equity of 9.52% and a net margin of 10.68%. During the same quarter last year, the company earned $0.60 EPS. On average, sell-side analysts expect that Exelon Co. will post 2.64 earnings per share for the current fiscal year.

Exelon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were issued a $0.40 dividend. The ex-dividend date was Monday, February 24th. This is an increase from Exelon’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 3.48%. Exelon’s payout ratio is 65.31%.

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.