Glenmede Trust Co. NA Reduces Stock Holdings in Exelon Co. (NASDAQ:EXC)

Glenmede Trust Co. NA cut its holdings in Exelon Co. (NASDAQ:EXC) by 8.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 592,557 shares of the company’s stock after selling 52,390 shares during the quarter. Glenmede Trust Co. NA’s holdings in Exelon were worth $24,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXC. Townsquare Capital LLC increased its stake in Exelon by 24.1% during the 3rd quarter. Townsquare Capital LLC now owns 16,517 shares of the company’s stock valued at $670,000 after purchasing an additional 3,208 shares in the last quarter. Baldwin Investment Management LLC purchased a new stake in shares of Exelon during the third quarter valued at $201,000. Cadence Bank purchased a new stake in shares of Exelon during the third quarter valued at $232,000. Avestar Capital LLC acquired a new position in shares of Exelon in the 3rd quarter valued at $205,000. Finally, Brooklyn Investment Group acquired a new stake in Exelon during the 3rd quarter worth about $184,000. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXC has been the topic of a number of research reports. Scotiabank increased 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. Barclays increased their price target on shares of Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. 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. UBS Group increased their price objective on shares of Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company boosted their target price on shares of Exelon from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.25.

Exelon Trading Up 0.1 %

EXC stock opened at $39.51 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Exelon Co. has a 52-week low of $33.35 and a 52-week high of $41.42. The company’s 50-day simple moving average is $39.60 and its 200-day simple moving average is $37.86. The firm has a market cap of $39.70 billion, a P/E ratio of 16.26, a PEG ratio of 2.79 and a beta of 0.54.

Exelon (NASDAQ:EXC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.67 by $0.04. The company 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%. Exelon’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. As a group, equities analysts forecast that Exelon Co. will post 2.45 EPS for the current fiscal 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 dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Friday, November 8th. Exelon’s dividend payout ratio 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.