Mirae Asset Global Investments Co. Ltd. Buys 747,694 Shares of Exelon Corporation $EXC

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Exelon Corporation (NASDAQ:EXC) in the third quarter, HoldingsChannel reports. The firm purchased 747,694 shares of the company’s stock, valued at approximately $30,207,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EXC. Axiom Investment Management LLC purchased a new stake in shares of Exelon in the 1st quarter worth about $27,000. Eastern Bank purchased a new position in Exelon during the 2nd quarter valued at about $26,000. Elevation Wealth Partners LLC increased its holdings in Exelon by 440.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 594 shares of the company’s stock valued at $28,000 after acquiring an additional 484 shares in the last quarter. Silvant Capital Management LLC acquired a new position in Exelon during the second quarter worth about $29,000. Finally, North Point Portfolio Managers Corp OH acquired a new position in Exelon during the third quarter worth about $29,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

Wall Street Analysts Forecast Growth

EXC has been the topic of several recent research reports. HSBC started coverage on shares of Exelon in a report on Thursday, October 22nd. They issued a “hold” rating and a $44.00 price target on the stock. Barclays cut their price objective on Exelon from $49.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. JPMorgan Chase & Co. reduced their target price on Exelon from $47.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Scotiabank lowered their target price on Exelon from $47.00 to $44.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Exelon in a research report on Tuesday, October 6th. Six investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Exelon presently has an average rating of “Hold” and an average target price of $48.58.

Exelon Trading Up 0.6%

Shares of EXC stock opened at $46.45 on Tuesday. The company has a market capitalization of $47.95 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.45 and a beta of 0.30. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The firm has a 50-day moving average price of $42.91 and a 200 day moving average price of $45.59. Exelon Corporation has a twelve month low of $39.73 and a twelve month high of $50.65.

Exelon (NASDAQ:EXC) last released its quarterly earnings results on Friday, October 30th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. Exelon had a net margin of 10.99% and a return on equity of 9.81%. The company had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $6.76 billion. During the same period last year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. Research analysts forecast that Exelon Corporation will post 2.86 earnings per share for the current fiscal year.

Exelon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, December 4th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.68 annualized dividend and a dividend yield of 3.6%. Exelon’s dividend payout ratio is presently 65.37%.

Exelon Company Profile

Exelon Corporation (NASDAQ:EXC) is a regulated utility holding company that delivers electricity and natural gas to residential, commercial and industrial customers. The company operates through six utility subsidiaries: Atlantic City Electric, Baltimore Gas and Electric, Commonwealth Edison, Delmarva Power, PECO and Pepco. Its businesses focus primarily on the transmission, distribution and delivery of energy rather than owning competitive power-generation operations.

Exelon’s utilities serve customers across Illinois, Pennsylvania, Maryland, Delaware, New Jersey and the District of Columbia.