Convergence Investment Partners LLC Trims Holdings in Exelon Corporation (EXC)

Convergence Investment Partners LLC cut its holdings in shares of Exelon Corporation (NYSE:EXC) by 21.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,898 shares of the energy giant’s stock after selling 20,541 shares during the quarter. Convergence Investment Partners LLC’s holdings in Exelon were worth $2,897,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its stake in Exelon by 11.5% during the 2nd quarter. FMR LLC now owns 53,846,913 shares of the energy giant’s stock worth $1,942,258,000 after acquiring an additional 5,572,093 shares in the last quarter. Vanguard Group Inc. raised its stake in Exelon by 6.9% during the 2nd quarter. Vanguard Group Inc. now owns 69,038,056 shares of the energy giant’s stock worth $2,490,203,000 after acquiring an additional 4,453,759 shares in the last quarter. Franklin Resources Inc. raised its stake in Exelon by 60.2% during the 2nd quarter. Franklin Resources Inc. now owns 10,920,256 shares of the energy giant’s stock worth $393,894,000 after acquiring an additional 4,102,441 shares in the last quarter. CI Global Investments Inc. acquired a new stake in Exelon during the 2nd quarter worth $136,723,000. Finally, Teachers Advisors LLC raised its stake in Exelon by 118.7% during the 2nd quarter. Teachers Advisors LLC now owns 3,921,206 shares of the energy giant’s stock worth $141,438,000 after acquiring an additional 2,127,988 shares in the last quarter. Institutional investors own 77.45% of the company’s stock.

Exelon Corporation (NYSE:EXC) traded down $0.27 during mid-day trading on Tuesday, reaching $41.56. 4,939,400 shares of the company were exchanged, compared to its average volume of 4,851,967. The stock has a market capitalization of $40,160.48, a P/E ratio of 16.87, a P/E/G ratio of 3.64 and a beta of 0.30. Exelon Corporation has a 52-week low of $32.74 and a 52-week high of $42.67. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06.

Exelon (NYSE:EXC) last released its quarterly earnings data on Thursday, November 2nd. The energy giant reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.58 billion. Exelon had a return on equity of 8.19% and a net margin of 6.59%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. analysts predict that Exelon Corporation will post 2.65 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Tuesday, November 14th. Exelon’s dividend payout ratio is currently 58.74%.

Several brokerages have issued reports on EXC. Morgan Stanley raised their price objective on shares of Exelon from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Goldman Sachs Group downgraded shares of Exelon from a “neutral” rating to a “sell” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, October 11th. BidaskClub raised shares of Exelon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Zacks Investment Research raised shares of Exelon from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $43.00 price objective on shares of Exelon in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $40.64.

In other Exelon news, Chairman Mayo A. Shattuck III sold 100,000 shares of Exelon stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $41.13, for a total transaction of $4,113,000.00. Following the completion of the transaction, the chairman now owns 267,649 shares in the company, valued at $11,008,403.37. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mayo A. Shattuck III sold 567,070 shares of Exelon stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $40.12, for a total transaction of $22,750,848.40. Following the transaction, the chairman now owns 746,986 shares of the company’s stock, valued at approximately $29,969,078.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,312,787 shares of company stock worth $52,683,909. 0.70% of the stock is owned by insiders.

TRADEMARK VIOLATION NOTICE: “Convergence Investment Partners LLC Trims Holdings in Exelon Corporation (EXC)” was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://www.chaffeybreeze.com/2017/12/05/convergence-investment-partners-llc-trims-holdings-in-exelon-corporation-exc.html.

Exelon Profile

Exelon Corporation is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. The Company, through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), is engaged in the energy delivery businesses.

Want to see what other hedge funds are holding EXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelon Corporation (NYSE:EXC).

Institutional Ownership by Quarter for Exelon (NYSE:EXC)

Receive News & Ratings for Exelon Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelon Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply