Corebridge Financial Inc. Has $15.51 Million Holdings in Exelon Co. (NASDAQ:EXC)

Corebridge Financial Inc. lifted its stake in shares of Exelon Co. (NASDAQ:EXC) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 411,939 shares of the company’s stock after purchasing an additional 20,354 shares during the period. Corebridge Financial Inc.’s holdings in Exelon were worth $15,505,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Exelon by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 127,335,351 shares of the company’s stock worth $4,792,903,000 after buying an additional 3,064,673 shares in the last quarter. State Street Corp lifted its stake in shares of Exelon by 3.7% during the third quarter. State Street Corp now owns 60,169,219 shares of the company’s stock valued at $2,439,862,000 after acquiring an additional 2,156,259 shares during the period. Geode Capital Management LLC lifted its stake in shares of Exelon by 1.6% during the third quarter. Geode Capital Management LLC now owns 25,945,791 shares of the company’s stock valued at $1,048,823,000 after acquiring an additional 403,542 shares during the period. FMR LLC boosted its holdings in Exelon by 18.7% in the third quarter. FMR LLC now owns 11,782,549 shares of the company’s stock valued at $477,782,000 after acquiring an additional 1,858,502 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Exelon by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,967,343 shares of the company’s stock worth $363,626,000 after purchasing an additional 160,313 shares during the last quarter. 80.92% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Colette D. Honorable sold 1,463 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $40.57, for a total value of $59,353.91. Following the sale, the executive vice president now directly owns 2,271 shares in the company, valued at $92,134.47. The trade was a 39.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Guggenheim raised shares of Exelon from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley raised their price objective on shares of Exelon from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. BMO Capital Markets reiterated an “outperform” rating on shares of Exelon in a research report on Tuesday, February 4th. Barclays increased their price target on Exelon from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, Evercore ISI raised Exelon from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $43.00 to $44.00 in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.13.

Exelon Price Performance

EXC opened at $43.58 on Tuesday. The company has a fifty day simple moving average of $42.09 and a 200 day simple moving average of $40.00. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 1.61. The stock has a market cap of $44.00 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.86 and a beta of 0.51. Exelon Co. has a 12 month low of $34.01 and a 12 month high of $45.20.

Exelon (NASDAQ:EXC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. Exelon had a return on equity of 9.52% and a net margin of 10.68%. During the same period in the prior year, the company earned $0.60 earnings per share. On average, research analysts expect that Exelon Co. will post 2.64 EPS for the current year.

Exelon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were paid a $0.40 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.60 dividend on an annualized basis and a yield of 3.67%. This is a positive change from Exelon’s previous quarterly dividend of $0.38. Exelon’s payout ratio is presently 65.31%.

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.