Pitcairn Co. Invests $229,000 in Exelon Co. (NASDAQ:EXC)

Pitcairn Co. acquired a new stake in shares of Exelon Co. (NASDAQ:EXC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,646 shares of the company’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC boosted its position in shares of Exelon by 3.5% in the third quarter. Foundations Investment Advisors LLC now owns 7,533 shares of the company’s stock worth $305,000 after purchasing an additional 255 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Exelon by 1.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 28,392 shares of the company’s stock valued at $1,151,000 after buying an additional 274 shares in the last quarter. Black Diamond Financial LLC boosted its holdings in Exelon by 2.0% in the 2nd quarter. Black Diamond Financial LLC now owns 14,067 shares of the company’s stock worth $487,000 after buying an additional 279 shares during the period. Ballentine Partners LLC increased its stake in Exelon by 2.1% in the 3rd quarter. Ballentine Partners LLC now owns 13,922 shares of the company’s stock worth $565,000 after buying an additional 285 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its holdings in Exelon by 3.3% during the second quarter. Aptus Capital Advisors LLC now owns 9,412 shares of the company’s stock valued at $326,000 after acquiring an additional 304 shares during the period. 80.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Exelon Trading Up 0.1 %

Shares of EXC stock opened at $39.51 on Thursday. The company has a market cap of $39.70 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. Exelon Co. has a 1 year low of $33.35 and a 1 year high of $41.42. The stock’s 50 day simple moving average is $39.60 and its two-hundred day simple moving average is $37.86. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.97.

Exelon (NASDAQ:EXC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share 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 quarter in the prior year, the firm posted $0.67 EPS. Research analysts predict that Exelon Co. will post 2.45 earnings per share for the current year.

Exelon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, November 8th. This represents a $1.52 annualized dividend and a yield of 3.85%. Exelon’s payout ratio is 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.