The Manufacturers Life Insurance Company Acquires 8,007 Shares of Exelon Co. (NASDAQ:EXC)

The Manufacturers Life Insurance Company boosted its holdings in shares of Exelon Co. (NASDAQ:EXC) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,135,980 shares of the company’s stock after acquiring an additional 8,007 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Exelon worth $46,064,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in EXC. American National Bank & Trust boosted its stake in shares of Exelon by 178.8% in the 3rd quarter. American National Bank & Trust now owns 697 shares of the company’s stock valued at $28,000 after purchasing an additional 447 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Exelon by 646.2% in the 2nd quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock valued at $27,000 after purchasing an additional 672 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Exelon in the 3rd quarter valued at $32,000. J.Safra Asset Management Corp bought a new stake in shares of Exelon in the 2nd quarter valued at $28,000. Finally, Abound Wealth Management boosted its stake in shares of Exelon by 502.7% in the 2nd quarter. Abound Wealth Management now owns 892 shares of the company’s stock valued at $31,000 after purchasing an additional 744 shares during the last quarter. 80.92% of the stock is owned by institutional investors.

Exelon Price Performance

EXC opened at $39.51 on Friday. The firm has a market cap of $39.70 billion, a P/E ratio of 16.26, a PEG ratio of 2.79 and a beta of 0.54. The firm has a 50-day moving average of $39.60 and a 200 day moving average of $37.88. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.97 and a current ratio of 1.09. Exelon Co. has a fifty-two week low of $33.35 and a fifty-two week high of $41.42.

Exelon (NASDAQ:EXC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The company had revenue of $6.15 billion during the quarter, compared to analyst estimates of $5.85 billion. Exelon had a net margin of 10.60% and a return on equity of 9.47%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. On average, research analysts expect that Exelon Co. will post 2.45 EPS for the current year.

Exelon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.85%. Exelon’s dividend payout ratio is presently 62.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EXC shares. Jefferies Financial Group initiated coverage on shares of Exelon in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Morgan Stanley cut their target price on shares of Exelon from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Scotiabank increased their target price on shares of Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, UBS Group increased their target price on shares of Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.25.

About Exelon

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.