Envestnet Asset Management Inc. Acquires 81,309 Shares of Exelon Corporation (NASDAQ:EXC)

Envestnet Asset Management Inc. increased its holdings in Exelon Corporation (NASDAQ:EXC) by 22.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 450,524 shares of the company’s stock after purchasing an additional 81,309 shares during the period. Envestnet Asset Management Inc.’s holdings in Exelon were worth $20,760,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allianz SE acquired a new position in shares of Exelon during the fourth quarter valued at about $5,953,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Exelon by 141.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 269,101 shares of the company’s stock worth $12,400,000 after buying an additional 157,548 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Exelon during the first quarter worth approximately $6,795,000. Schroder Investment Management Group increased its holdings in shares of Exelon by 86.7% during the fourth quarter. Schroder Investment Management Group now owns 1,576,632 shares of the company’s stock worth $59,329,000 after buying an additional 732,355 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Exelon by 11.2% during the fourth quarter. Parallel Advisors LLC now owns 8,356 shares of the company’s stock valued at $315,000 after purchasing an additional 844 shares during the last quarter. 80.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EXC has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on shares of Exelon from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. UBS Group reissued a “neutral” rating and issued a $48.00 price target (up previously from $47.00) on shares of Exelon in a report on Friday, July 11th. Wells Fargo & Company boosted their price target on shares of Exelon from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Evercore ISI boosted their price objective on shares of Exelon from $48.00 to $51.00 and gave the company an “in-line” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley cut their price objective on shares of Exelon from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.20.

Exelon Stock Down 0.2%

Shares of NASDAQ EXC opened at $42.85 on Thursday. Exelon Corporation has a 12-month low of $35.65 and a 12-month high of $48.11. The firm has a market cap of $43.26 billion, a PE ratio of 15.93, a P/E/G ratio of 2.52 and a beta of 0.39. The company’s fifty day simple moving average is $43.27 and its 200 day simple moving average is $43.05. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. Exelon had a net margin of 11.44% and a return on equity of 10.29%. The firm had revenue of $6.71 billion for the quarter, compared to analyst estimates of $6.30 billion. During the same period last year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Exelon Corporation will post 2.64 earnings per share for the current fiscal year.

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, May 12th were issued a $0.40 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.60 annualized dividend and a dividend yield of 3.73%. Exelon’s dividend payout ratio is currently 59.48%.

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.