MAI Capital Management Sells 1,258 Shares of Exelon Co. (NASDAQ:EXC)

MAI Capital Management trimmed its holdings in shares of Exelon Co. (NASDAQ:EXC) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,573 shares of the company’s stock after selling 1,258 shares during the quarter. MAI Capital Management’s holdings in Exelon were worth $1,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crewe Advisors LLC bought a new stake in shares of Exelon during the first quarter worth $26,000. Versant Capital Management Inc lifted its position in shares of Exelon by 646.2% during the second quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock worth $27,000 after purchasing an additional 672 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Exelon during the second quarter worth $28,000. American National Bank & Trust lifted its position in shares of Exelon by 178.8% during the third quarter. American National Bank & Trust now owns 697 shares of the company’s stock worth $28,000 after purchasing an additional 447 shares during the last quarter. Finally, Abound Wealth Management raised its holdings in shares of Exelon by 502.7% in the second quarter. Abound Wealth Management now owns 892 shares of the company’s stock valued at $31,000 after acquiring an additional 744 shares in the last quarter. 80.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on EXC. Scotiabank lifted their price objective on Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group began coverage on Exelon in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Morgan Stanley lifted their price objective on Exelon from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. UBS Group lifted their price objective on Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Wells Fargo & Company lifted their price objective on Exelon from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Exelon currently has a consensus rating of “Hold” and a consensus price target of $41.33.

Exelon Price Performance

Shares of EXC stock opened at $38.73 on Thursday. Exelon Co. has a fifty-two week low of $33.35 and a fifty-two week high of $41.42. The firm has a market capitalization of $38.92 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.79 and a beta of 0.54. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.97 and a current ratio of 1.09. The stock’s 50-day simple moving average is $39.68 and its 200-day simple moving average is $37.82.

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

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.92%. Exelon’s dividend payout ratio is currently 62.55%.

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.