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 21.01% to 80.96 million shares with purchase of 14.06 million shares. This fresh investment now brings its stake to 8.31% valued currently at $3.13 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 1.67 million to 63.34 million shares. And BlackRock Fund Advisors has lifted its position by 2.09% or 1.01 million shares – to 49.16 million shares.
With over 4.37 million Exelon Corporation (EXC) shares trading Tuesday and a closing price of $36.33 on the day, the dollar volume was approximately $158.89 million. The shares have shown a negative weekly performance of -2.15% and its price on 09/01/20 lost nearly -1.57%. Currently, there are 976.00M common shares owned by the public and among those 971.97M 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: 20 analysts who have offered their price forecasts for EXC have a consensus price objective of $46.53. The analysts have set the share’s price value over the next 12 months at a high of $58.00 and a low of $36.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Exelon Corporation stock is 2.20 for the next 12 months. The average price target is 22.39% above its last price level and an upside to the estimated low will see the stock lose -0.92% over that period. But an upside of 37.36% will see the stock hit the forecast high price target while mean target price for the stock is $46.00.
Insiders at the company have transacted a total of 85 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 62 of these insider trades were purchases, accounting for 774,409 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 570,453 shares.
The top 3 mutual fund holders in Exelon Corporation are Vanguard Wellington Fund, Vanguard Total Stock Market Index, and Vanguard 500 Index Fund. Vanguard Wellington Fund owns 28.95 million shares of the company’s stock, all valued at over $1.12 billion. The company bought an additional 10.67 million shares recently to bring their total holdings to about 2.97% of the shares outstanding. Vanguard Total Stock Market Index sold 76538.0 shares to see its total holdings shrink to 27.68 million shares valued at over $1.07 billion and representing 2.84% of the shares outstanding. Vanguard 500 Index Fund sold -0.12 million shares to bring its total holdings to over 20.1 million shares at a value of $775.88 million. Vanguard 500 Index Fund now owns shares totaling to 2.06% of the shares outstanding.
Shares of Exelon Corporation (NASDAQ: EXC) opened at $36.70, down -$0.21 from a prior closing price of $36.91. However, the script later closed the day at $36.33, down -1.57%. The company’s stock has a 5-day price change of -2.15% and -8.97% over the past three months. EXC shares are trading -20.31% year to date (YTD), with the 12-month market performance down to -24.19% lower. It has a 12-month low price of $29.28 and touched a high of $50.54 over the same period. Currently, 4.37 million shares have been traded, compared to an average intraday trading volume of 5.88 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 -3.29%, -3.27%, and -10.70% respectively.
Institutional ownership of Exelon Corporation (NASDAQ: EXC) shares accounts for 81.10% of the company’s 976.00M shares outstanding. Mutual fund holders own 28.12%, while other institutional holders and individual stakeholders account for 52.83% and 0.69% respectively.
It has a market capitalization of $35.26B and a beta (3y monthly) value of 0.40. The stock’s trailing 12-month PE ratio is 13.39, while the earnings-per-share (ttm) stands at $2.71. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.77% over the week and 2.32% over the month.
Analysts forecast that Exelon Corporation (EXC) will achieve an EPS of $0.84 for the current quarter, $0.71 for the next quarter and $2.92 for 2021. The lowest estimate earnings-per-share for the quarter is $0.78 while analysts give the company a high EPS estimate of $0.88. Comparatively, EPS for the current quarter was $0.92 a year ago. Earnings per share for the fiscal year are expected to increase by 45.70%, and -1.32% over the next financial year. EPS should shrink at an annualized rate of -3.48% over the next five years, compared to 9.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate Exelon Corporation (EXC) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 3 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the EXC, a number of firms have released research notes about the stock. BofA Securities stated their Underperform rating for the stock in a research note on August 17, 2020, with the firm’s price target at $41-$39. Mizuho coverage for the Exelon Corporation (EXC) stock in a research note released on July 24, 2020 offered a Underperform rating with a price target of. Seaport Global Securities was of a view on May 20, 2020 that the stock is Buy, while Vertical Research gave the stock Buy rating on May 11, 2020, issuing a price target of. Vertical Research on their part issued Hold rating on February 25, 2020.