Nippon Life Global Investors Americas Inc. Invests $592,000 in Exelon Co. (NASDAQ:EXC)

Nippon Life Global Investors Americas Inc. acquired a new stake in Exelon Co. (NASDAQ:EXC) during the second quarter, Holdings Channel reports. The fund acquired 17,100 shares of the company’s stock, valued at approximately $592,000.

Other hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in Exelon during the first quarter worth about $26,000. Heritage Wealth Advisors boosted its position in shares of Exelon by 247.5% during the 4th quarter. Heritage Wealth Advisors now owns 695 shares of the company’s stock worth $25,000 after purchasing an additional 495 shares during the period. Register Financial Advisors LLC purchased a new position in shares of Exelon during the 1st quarter worth approximately $26,000. Versant Capital Management Inc increased its holdings in Exelon by 646.2% in the 2nd quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock valued at $27,000 after purchasing an additional 672 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in Exelon in the second quarter valued at approximately $28,000. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Exelon Price Performance

Shares of EXC opened at $40.27 on Monday. The firm has a market capitalization of $40.29 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.93 and a beta of 0.53. The firm’s fifty day simple moving average is $37.83 and its 200-day simple moving average is $37.06. Exelon Co. has a twelve month low of $33.35 and a twelve month high of $41.48. The company has a current ratio of 1.03, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $4.98 billion. Exelon had a return on equity of 9.40% and a net margin of 10.65%. During the same period in the previous year, the business earned $0.41 EPS. Equities analysts forecast that Exelon Co. will post 2.44 EPS for the current fiscal year.

Exelon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Monday, August 12th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Monday, August 12th. Exelon’s dividend payout ratio (DPR) is 65.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EXC shares. Scotiabank raised their price target on Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. UBS Group raised their target price on Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Friday. Barclays boosted their price target on shares of Exelon from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Morgan Stanley raised their price objective on shares of Exelon from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company upped their target price on shares of Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Exelon has a consensus rating of “Hold” and an average target price of $40.83.

Exelon Profile

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.