Convergence Investment Partners LLC Cuts Stock Position in Exelon Co. (NYSE:EXC)

Convergence Investment Partners LLC lessened its holdings in Exelon Co. (NYSE:EXC) by 34.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 47,294 shares of the energy giant’s stock after selling 24,501 shares during the period. Convergence Investment Partners LLC’s holdings in Exelon were worth $2,267,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. First Bank & Trust purchased a new stake in Exelon in the 1st quarter worth $25,000. Centersquare Investment Management LLC bought a new position in shares of Exelon during the 1st quarter valued at about $26,000. LFA Lugano Financial Advisors SA bought a new position in shares of Exelon during the 1st quarter valued at about $29,000. Manchester Financial Inc. bought a new position in shares of Exelon during the 2nd quarter valued at about $30,000. Finally, Weaver Consulting Group bought a new position in shares of Exelon during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 79.67% of the company’s stock.

Shares of NYSE:EXC traded up $0.84 during trading on Friday, reaching $45.24. The company’s stock had a trading volume of 1,270,940 shares, compared to its average volume of 5,512,313. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 0.99. Exelon Co. has a 12 month low of $41.96 and a 12 month high of $51.18. The company’s 50 day moving average price is $48.39. The stock has a market cap of $43.43 billion, a PE ratio of 14.50, a PEG ratio of 4.10 and a beta of 0.37.

Exelon (NYSE:EXC) last announced its quarterly earnings results on Thursday, August 1st. The energy giant reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.03). Exelon had a net margin of 6.52% and a return on equity of 8.85%. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same period in the previous year, the business posted $0.71 EPS. The firm’s revenue was down 4.8% on a year-over-year basis. On average, equities analysts predict that Exelon Co. will post 3.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $0.363 dividend. This represents a $1.45 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, August 14th. Exelon’s payout ratio is 46.47%.

In related news, CEO Calvin Butler, Jr. sold 31,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $47.59, for a total value of $1,475,290.00. Following the completion of the transaction, the chief executive officer now owns 40,331 shares of the company’s stock, valued at approximately $1,919,352.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth W. Cornew sold 54,300 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $49.82, for a total transaction of $2,705,226.00. Following the completion of the transaction, the executive vice president now directly owns 97,813 shares of the company’s stock, valued at approximately $4,873,043.66. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Several research analysts have commented on EXC shares. Morgan Stanley increased their price objective on shares of Exelon from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, June 14th. ValuEngine downgraded shares of Exelon from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Barclays reissued a “hold” rating and set a $54.00 price objective on shares of Exelon in a report on Wednesday, June 19th. Goldman Sachs Group raised shares of Exelon from a “neutral” rating to a “buy” rating and increased their price objective for the company from $48.00 to $52.00 in a report on Thursday, June 6th. Finally, Mizuho increased their price objective on shares of Exelon from $47.00 to $49.50 and gave the company a “neutral” rating in a report on Thursday, May 16th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $49.96.

Exelon Profile

Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, and solar generating facilities. The company also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.

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Institutional Ownership by Quarter for Exelon (NYSE:EXC)

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