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

Summit Financial LLC reduced its holdings in shares of Exelon Co. (NASDAQ:EXC) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,626 shares of the company’s stock after selling 480 shares during the period. Summit Financial LLC’s holdings in Exelon were worth $249,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Captrust Financial Advisors boosted its stake in Exelon by 4.2% during the third quarter. Captrust Financial Advisors now owns 46,081 shares of the company’s stock worth $1,869,000 after acquiring an additional 1,868 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Exelon by 18.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 17,581 shares of the company’s stock worth $714,000 after purchasing an additional 2,741 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Exelon by 2.9% in the 3rd quarter. HighTower Advisors LLC now owns 253,792 shares of the company’s stock valued at $10,276,000 after buying an additional 7,213 shares during the period. Investment Management Corp of Ontario increased its position in Exelon by 48.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 33,244 shares of the company’s stock valued at $1,348,000 after buying an additional 10,900 shares in the last quarter. Finally, IHT Wealth Management LLC raised its stake in Exelon by 2.2% during the 3rd quarter. IHT Wealth Management LLC now owns 20,117 shares of the company’s stock worth $816,000 after buying an additional 440 shares during the period. 80.92% of the stock is owned by institutional investors.

Exelon Trading Down 4.0 %

Shares of EXC stock opened at $45.35 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.78 and a current ratio of 0.87. The company has a market capitalization of $45.78 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.86 and a beta of 0.39. Exelon Co. has a 52-week low of $34.01 and a 52-week high of $48.11. The company has a 50-day simple moving average of $43.17 and a two-hundred day simple moving average of $40.35.

Exelon (NASDAQ:EXC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business earned $0.60 earnings per share. Research analysts anticipate that Exelon Co. will post 2.64 EPS for the current fiscal year.

Exelon Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost from Exelon’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, February 24th. Exelon’s payout ratio is presently 65.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EXC shares. Guggenheim upgraded Exelon from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays boosted their price target on shares of Exelon from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. UBS Group raised their price objective on shares of Exelon from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Evercore ISI raised shares of Exelon from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $43.00 to $44.00 in a research report on Tuesday, January 21st. Finally, Scotiabank raised their price target on shares of Exelon from $42.00 to $44.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.13.

Insider Buying and Selling

In other Exelon news, EVP Colette D. Honorable sold 1,463 shares of Exelon stock in a transaction dated 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 approximately $92,134.47. The trade was a 39.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.10% of the stock is owned by insiders.

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.