ProShare Advisors LLC, an investment management company, has recently increased its holdings in Exelon Co. The firm raised its stake by 21.8% during the first quarter of this year, according to a disclosure made with the Securities and Exchange Commission (SEC). The fund now owns approximately 1,071,615 shares of Exelon’s stock after purchasing an additional 192,025 shares during the period. This accounts for approximately 0.11% of Exelon’s total worth which amounts to $44,890,000 as per their recent SEC filing.
Exelon Co. is a publicly traded energy company listed on the NASDAQ exchange under the ticker symbol EXC. The company recently announced its quarterly earnings results on August 2nd. For this reporting period, Exelon reported earnings per share (EPS) of $0.41, slightly surpassing the consensus estimate of $0.40 by $0.01.
Furthermore, Exelon demonstrated a net margin of 10.66% and a return on equity (ROE) of 9.20%. The firm generated revenue of $4.82 billion during this quarter compared to analysts’ expectations of $4.22 billion, indicating a growth rate of 13.7% in revenue compared to the same quarter last year.
It is important to note that during the corresponding period in the previous year, Exelon had recorded earnings per share of $0.44 which suggests a slight decline in earnings year-over-year.
Looking ahead to the current fiscal year and taking into account various factors and market conditions, sell-side analysts predict that Exelon Co.’s earnings per share for this fiscal year will amount to approximately $2.35.
The increase in ProShare Advisors LLC’s holdings signifies a growing confidence in Exelon Co., particularly considering their solid quarterly performance and potential future profitability.
Founded in February 2003, ProShare Advisors LLC manages a diverse range of investment strategies and is known for its expertise in index-based ETFs (exchange-traded funds). The company’s decision to increase its stake in Exelon indicates a positive outlook on the energy industry and suggests that Exelon Co. is positioning itself well within this sector.
Investors and market participants will be closely monitoring Exelon Co.’s future earnings reports and other significant developments as the year progresses. Such information will help determine the trajectory of Exelon’s stock performance and potential investment opportunities in the energy industry.
Please note that this article references information available as of September 14, 2023, and readers are encouraged to verify current data regarding ProShare Advisors LLC’s holdings and Exelon Co.’s financial performance for the most up-to-date information.
Institutional Investors Adjust Stakes in Exelon: Analysis of Stock Performance and Investor Opinions
Institutional investors, such as Toroso Investments LLC and Ameriprise Financial Inc., have recently made adjustments to their stakes in Exelon, a leading energy company. Toroso Investments LLC increased its stake by 56.9% during the first quarter, acquiring an additional 8,510 shares and bringing its total ownership to 23,454 shares valued at $982,000. Similarly, Ameriprise Financial Inc. increased its stake by 39.6% during the same period, purchasing an additional 236,652 shares and holding a total of 833,786 shares valued at $34.9 million.
Another notable institutional investor is B. Riley Wealth Advisors Inc., which raised its stake in Exelon by 37.4% during the first quarter. The firm now owns 21,740 shares of the company’s stock valued at $911,000 after purchasing an additional 5,917 shares in the previous quarter. Chevy Chase Trust Holdings LLC also increased its stake by 1%, adding an additional 5,760 shares to hold a total of 580,240 shares valued at $24.3 million.
Thrivent Financial for Lutherans joined the list of institutional investors who increased their stakes in Exelon during the first quarter. The firm purchased an additional 1,935 shares and now owns a total of 44,494 shares valued at $1.86 million.
Collectively, institutional investors currently hold approximately 81.38% of Exelon’s stock.
As for EXC stock performance on September 14th, it opened at $41.13. With a market capitalization of $40.93 billion and a P/E ratio of 19.40 along with a PEG ratio of 2.74 and a beta value of 0.62.
Exelon Co.’s quick ratio stands at 0.86 while its current ratio is reported as 0.95. The company has a 50-day simple moving average of $40.75 and a 200-day simple moving average of $41.02. Over the past year, Exelon’s stock has fluctuated between its fifty-two week low of $35.19 and its high of $44.71.
Regarding dividends, Exelon recently declared a quarterly dividend that was paid on September 8th to shareholders of record as of August 15th. The dividend per share was $0.36, resulting in an annualized dividend of $1.44 with a yield of 3.50%. The ex-dividend date was August 14th. Exelon’s dividend payout ratio (DPR) currently stands at 67.92%.
Looking at the opinions provided by various brokerages, BMO Capital Markets reduced its price target for Exelon from $46 to $44 in their report on May 25th, while Barclays gave the company an “overweight” rating with a price target of $43 on August 23rd.
StockNews.com issued a “sell” rating for Exelon in their report released on August 23rd, followed by Royal Bank of Canada reducing their price target from $47 to $45 and giving the company a “sector perform” rating on September 6th.
Meanwhile, The Goldman Sachs Group offered a “sell” rating for Exelon with a price target set at $39 in their report on June 7th.
Overall, two investment analysts have rated the stock as “sell,” two have assigned it as “hold,” and seven have given it a “buy” rating according to data from Bloomberg.
Based on the consensus among analysts, Exelon has received an overall rating of “Hold” with an average target price set at $44.10.
As institutional investors continue to show varying degrees of confidence and concern regarding Exelon’s future performance, the company’s stock price and financial outlook remain subjects of ongoing scrutiny and analysis in the investment community.