CIBC Asset Management Inc Buys 17,135 Shares of Exelon Co. (NASDAQ:EXC)

CIBC Asset Management Inc lifted its stake in shares of Exelon Co. (NASDAQ:EXC) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 310,238 shares of the company’s stock after purchasing an additional 17,135 shares during the period. CIBC Asset Management Inc’s holdings in Exelon were worth $12,580,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in shares of Exelon in the first quarter worth about $26,000. Versant Capital Management Inc raised its holdings in Exelon by 646.2% during the 2nd quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock valued at $27,000 after acquiring an additional 672 shares during the period. J.Safra Asset Management Corp purchased 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 acquiring an additional 447 shares in the last quarter. Finally, Abound Wealth Management boosted 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 worth $31,000 after acquiring an additional 744 shares during the period. Institutional investors own 80.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EXC shares. Wells Fargo & Company raised 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. Scotiabank boosted their price objective on shares of Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Morgan Stanley increased their target price on shares of Exelon from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group initiated coverage on Exelon in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Barclays lifted their target price on shares of 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $41.33.

Exelon Stock Up 2.6 %

Shares of NASDAQ EXC opened at $39.11 on Friday. The firm’s fifty day moving average is $39.68 and its 200 day moving average is $37.79. Exelon Co. has a 52 week low of $33.35 and a 52 week high of $41.42. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The company has a market cap of $39.30 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 2.72 and a beta of 0.54.

Exelon (NASDAQ:EXC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share (EPS) 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 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 quarter last year, the firm earned $0.67 EPS. On average, equities research analysts expect that Exelon Co. will post 2.45 earnings per share for the current year.

Exelon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, November 8th. This represents a $1.52 annualized dividend and a dividend yield of 3.89%. Exelon’s dividend payout ratio (DPR) is presently 62.55%.

About Exelon

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.