Connor Clark & Lunn Investment Management Ltd. Sells 55,024 Shares of Exelon Co. (NASDAQ:EXC)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Exelon Co. (NASDAQ:EXC) by 42.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,833 shares of the company’s stock after selling 55,024 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Exelon were worth $3,034,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EXC. Jennison Associates LLC lifted its position in shares of Exelon by 44.0% during the third quarter. Jennison Associates LLC now owns 1,830,435 shares of the company’s stock worth $74,224,000 after acquiring an additional 558,977 shares in the last quarter. Commerce Bank lifted its holdings in Exelon by 1.4% during the 3rd quarter. Commerce Bank now owns 49,290 shares of the company’s stock worth $1,999,000 after purchasing an additional 674 shares in the last quarter. Yardley Wealth Management LLC purchased a new position in Exelon during the 3rd quarter valued at about $324,000. PNC Financial Services Group Inc. increased its position in shares of Exelon by 0.3% during the third quarter. PNC Financial Services Group Inc. now owns 315,954 shares of the company’s stock valued at $12,812,000 after buying an additional 977 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Exelon in the third quarter worth about $7,777,000. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Exelon Trading Down 1.5 %

Shares of EXC opened at $38.71 on Monday. 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 cap of $38.90 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 2.81 and a beta of 0.54. The firm has a 50 day moving average price of $39.64 and a 200-day moving average price of $37.83. 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 (NASDAQ:EXC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. The business 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 company’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. As a group, equities research analysts forecast that Exelon Co. will post 2.45 earnings per share for the current year.

Exelon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 annualized dividend and a yield of 3.93%. Exelon’s payout ratio is currently 62.55%.

Wall Street Analysts Forecast Growth

EXC has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Exelon in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Scotiabank increased their price objective on Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. UBS Group lifted their price objective on Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company upped their target price on Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Barclays lifted their price target on Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.25.

Exelon Company 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.