Connor Clark & Lunn Investment Management Ltd. Sells 55,024 Shares of Exelon Co. (NASDAQ:EXC)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Exelon Co. (NASDAQ:EXC) by 42.4% in the third quarter, Holdings Channel.com reports. The firm owned 74,833 shares of the company’s stock after selling 55,024 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Exelon were worth $3,034,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc boosted its stake in Exelon by 646.2% during the second quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock worth $27,000 after acquiring an additional 672 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Exelon in the 2nd quarter worth approximately $28,000. American National Bank & Trust grew its stake in shares of Exelon by 178.8% in the 3rd quarter. American National Bank & Trust now owns 697 shares of the company’s stock worth $28,000 after buying an additional 447 shares during the last quarter. Abound Wealth Management increased its position in Exelon by 502.7% during the 2nd quarter. Abound Wealth Management now owns 892 shares of the company’s stock valued at $31,000 after buying an additional 744 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Exelon during the third quarter valued at $32,000. Institutional investors own 80.92% of the company’s stock.

Exelon Stock Performance

Shares of EXC opened at $38.71 on Monday. The firm has a market capitalization of $38.90 billion, a P/E ratio of 15.93, a PEG ratio of 2.81 and a beta of 0.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.97. Exelon Co. has a one year low of $33.35 and a one year high of $41.42. The business has a fifty day moving average of $39.64 and a 200 day moving average of $37.83.

Exelon (NASDAQ:EXC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. Exelon had a return on equity of 9.47% and a net margin of 10.60%. The business had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the previous year, the company posted $0.67 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Exelon Co. will post 2.45 EPS for the current year.

Exelon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be given a $0.38 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.52 annualized dividend and a yield of 3.93%. Exelon’s payout ratio is presently 62.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EXC. UBS Group raised their price target on Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Barclays raised their price objective on shares of Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group initiated coverage on shares of Exelon in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Scotiabank raised their price target on shares of Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley cut their target price on Exelon from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.25.

Exelon Company Profile

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.