Wellington Management Co. LLP recently announced the acquisition of new stake in Exelon Corporation (NASDAQ:EXC). The institutional investor has increased its shareholding in the Utilities company by 0.70% to 90.93 million shares with purchase of 0.63 million shares. This fresh investment now brings its stake to 9.17% valued currently at $3.51 billion. In addition, The Vanguard Group, Inc. raised its holdings by 2.24 million to 86.32 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.75% or 1.02 million shares – to 59.56 million shares.
With over 7.99 million Exelon Corporation (EXC) shares trading Tuesday and a closing price of $40.00 on the day, the dollar volume was approximately $319.7 million. The shares have shown a negative half year performance of -18.62% and its price on 11/29/22 lost nearly -0.57%. Currently, there are 993.74M common shares owned by the public and among those 991.25M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for EXC have a consensus price objective of $43.20. The analysts have set the share’s price value over the next 12 months at a high of $47.00 and a low of $39.00. The average price target is 8.45% above its recent price level and a downside to the estimated low will see the stock lose -2.56% over that period. But an upside of 14.89% will see the stock hit the forecast high price target while median target price for the stock is $42.00.
Insiders at the company have transacted a total of 97 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 60 of these insider trades were purchases, accounting for 553,837 shares. Insider sales of the common stock occurred on 37 occasions, with total insider shares sold totaling 378,949 shares.
The top 3 mutual fund holders in Exelon Corporation are Vanguard Total Stock Market Index, Vanguard Wellington Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 29.76 million shares of the company’s stock, all valued at over $1.15 billion. The company bought an additional 0.17 million shares recently to bring their total holdings to about 3.00% of the shares outstanding. Vanguard Wellington Fund bought 0.18 million shares to see its total holdings expand to 27.82 million shares valued at over $1.07 billion and representing 2.81% of the shares outstanding. Vanguard 500 Index Fund bought 0.22 million shares to bring its total holdings to over 22.69 million shares at a value of $875.62 million. Vanguard 500 Index Fund now owns shares totaling to 2.29% of the shares outstanding.
Shares of Exelon Corporation (NASDAQ: EXC) opened at $40.01, down -$0.22 from a prior closing price of $40.23. However, the script later moved the day high at 40.11, down -0.57%. The company’s stock has a 5-day price change of 3.36% and -9.21% over the past three months. EXC shares are trading -2.88% year to date (YTD), with the 12-month market performance up to 3.55% higher. It has a 12-month low price of $35.19 and touched a high of $50.71 over the same period. EXC has an average intraday trading volume of 8.21 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.10%, 3.89%, and -8.47% respectively.
Institutional ownership of Exelon Corporation (NASDAQ: EXC) shares accounts for 83.90% of the company’s 993.74M shares outstanding. Mutual fund holders own 29.86%, while other institutional holders and individual stakeholders account for 53.33% and 0.71% respectively.
It has a market capitalization of $39.33B and a beta (3y monthly) value of 0.55. The stock’s trailing 12-month PE ratio is 19.57, while the earnings-per-share (ttm) stands at $2.04. The company has a PEG of 1.76 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 1.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.36% over the week and 2.30% over the month.
Analysts forecast that Exelon Corporation (EXC) will achieve an EPS of $0.7 for the current quarter, $0.47 for the next quarter and $2.39 for 2023. The lowest estimate earnings-per-share for the quarter is $0.64 while analysts give the company a high EPS estimate of $0.74. Comparatively, EPS for the current quarter was $1.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -13.40%, and 4.25% over the next financial year. EPS should grow at an annualized rate of 11.11% over the next five years, compared to 7.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Exelon Corporation (EXC) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 6 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
Credit Suisse coverage for the Exelon Corporation (EXC) stock in a research note released on October 03, 2022 offered a Outperform rating with a price target of $43. JP Morgan was of a view on April 20, 2022 that the stock is Overweight, while Mizuho gave the stock Buy rating on March 11, 2022, issuing a price target of $43- $46. Barclays on their part issued Equal Weight rating on February 07, 2022.