Exelon Co. (NASDAQ:EXC) Position Decreased by Meiji Yasuda Asset Management Co Ltd.

Posted by Defense World Staff on Mar 15th, 2023

Meiji Yasuda Asset Management Co Ltd. decreased its holdings in shares of Exelon Co. (NASDAQ:EXC – Get Rating) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,385 shares of the company’s stock after selling 890 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Exelon were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in EXC. Stock Yards Bank & Trust Co. purchased a new stake in Exelon during the second quarter valued at about $350,000. Benjamin Edwards Inc. lifted its stake in Exelon by 17.0% during the third quarter. Benjamin Edwards Inc. now owns 17,645 shares of the company’s stock valued at $661,000 after buying an additional 2,570 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Exelon by 2.7% during the third quarter. Mutual of America Capital Management LLC now owns 137,298 shares of the company’s stock valued at $5,143,000 after buying an additional 3,651 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Exelon during the third quarter valued at about $564,000. Finally, Summit Global Investments lifted its position in shares of Exelon by 2.0% in the second quarter. Summit Global Investments now owns 40,181 shares of the company’s stock worth $1,821,000 after purchasing an additional 770 shares in the last quarter. Institutional investors own 80.60% of the company’s stock.

Exelon Price Performance

Shares of EXC opened at $41.34 on Wednesday. The firm has a market cap of $41.10 billion, a PE ratio of 18.88, a PEG ratio of 2.58 and a beta of 0.60. The firm’s 50 day moving average price is $41.88 and its 200 day moving average price is $40.31. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.62 and a current ratio of 0.69. Exelon Co. has a twelve month low of $35.19 and a twelve month high of $50.71.

Exelon (NASDAQ:EXC – Get Rating) last announced its quarterly earnings results on Tuesday, February 14th. The company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. Exelon had a return on equity of 9.30% and a net margin of 11.37%. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts expect that Exelon Co. will post 2.35 EPS for the current fiscal year.

Exelon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Monday, February 27th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Friday, February 24th. This is an increase from Exelon’s previous quarterly dividend of $0.34. Exelon’s dividend payout ratio (DPR) is 65.75%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EXC shares. Credit Suisse Group increased their price target on shares of Exelon from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, January 23rd. Wells Fargo & Company reduced their price target on shares of Exelon from $47.00 to $45.00 in a research report on Wednesday, February 15th. BMO Capital Markets reduced their price target on shares of Exelon from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, February 15th. Finally, Morgan Stanley increased their price target on shares of Exelon from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, December 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.64.

About Exelon

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Exelon Corp. is a utility services holding company, which engages in the energy distribution and transmission businesses. It operates through the following segments: Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL), and Atlantic City Electric Company (ACE).