Summit Financial LLC Sells 480 Shares of Exelon Co. (NASDAQ:EXC)

Summit Financial LLC reduced its position in Exelon Co. (NASDAQ:EXC) by 6.8% during the fourth quarter, HoldingsChannel reports. The fund owned 6,626 shares of the company’s stock after selling 480 shares during the quarter. Summit Financial LLC’s holdings in Exelon were worth $249,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in EXC. Vanguard Group Inc. boosted its holdings in shares of Exelon by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 127,335,351 shares of the company’s stock worth $4,792,903,000 after acquiring an additional 3,064,673 shares during the period. State Street Corp boosted its stake in Exelon by 3.7% in the 3rd quarter. State Street Corp now owns 60,169,219 shares of the company’s stock worth $2,439,862,000 after purchasing an additional 2,156,259 shares during the period. Geode Capital Management LLC grew its holdings in Exelon by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 25,945,791 shares of the company’s stock valued at $1,048,823,000 after buying an additional 403,542 shares in the last quarter. Norges Bank bought a new stake in shares of Exelon during the fourth quarter valued at about $479,597,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Exelon by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,729,004 shares of the company’s stock worth $253,280,000 after buying an additional 282,596 shares in the last quarter. 80.92% of the stock is owned by hedge funds and other institutional investors.

Exelon Stock Down 4.0 %

Shares of NASDAQ EXC opened at $45.35 on Friday. The stock has a market capitalization of $45.78 billion, a P/E ratio of 18.51, a PEG ratio of 2.86 and a beta of 0.39. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.87 and a quick ratio of 0.78. Exelon Co. has a one year low of $34.01 and a one year high of $48.11. The firm’s 50 day simple moving average is $43.17 and its two-hundred day simple moving average is $40.35.

Exelon (NASDAQ:EXC) last issued its earnings results on Wednesday, February 12th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. Exelon had a net margin of 10.68% and a return on equity of 9.52%. During the same period in the previous year, the firm posted $0.60 EPS. As a group, analysts expect that Exelon Co. will post 2.64 EPS for the current fiscal year.

Exelon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.53%. This is a positive change from Exelon’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, February 24th. Exelon’s dividend payout ratio (DPR) is presently 65.31%.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group raised their price target on shares of Exelon from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Barclays boosted their target price on Exelon from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Morgan Stanley lifted their price target on Exelon from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Evercore ISI upgraded shares of Exelon from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $43.00 to $44.00 in a research report on Tuesday, January 21st. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Exelon in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.13.

Insider Buying and Selling at Exelon

In other Exelon news, EVP Colette D. Honorable sold 1,463 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $40.57, for a total value of $59,353.91. Following the sale, the executive vice president now owns 2,271 shares of the company’s stock, valued at $92,134.47. This trade represents a 39.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

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.