Exelon Co. (NASDAQ:EXC) Shares Bought by Synovus Financial Corp

Synovus Financial Corp grew its stake in shares of Exelon Co. (NASDAQ:EXC) by 70.5% during the third quarter, Holdings Channel reports. The firm owned 18,649 shares of the company’s stock after purchasing an additional 7,713 shares during the period. Synovus Financial Corp’s holdings in Exelon were worth $756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXC. Raymond James & Associates grew its position in shares of Exelon by 6.1% during the second quarter. Raymond James & Associates now owns 542,911 shares of the company’s stock worth $18,790,000 after acquiring an additional 31,230 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Exelon by 26.5% during the second quarter. Nisa Investment Advisors LLC now owns 150,133 shares of the company’s stock worth $5,196,000 after acquiring an additional 31,476 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Exelon by 8.9% during the second quarter. First Horizon Advisors Inc. now owns 4,096 shares of the company’s stock worth $142,000 after acquiring an additional 334 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new position in shares of Exelon during the second quarter worth approximately $235,000. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Exelon by 68.5% during the second quarter. Fifth Third Wealth Advisors LLC now owns 15,098 shares of the company’s stock worth $523,000 after acquiring an additional 6,139 shares during the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.

Wall Street Analyst Weigh In

EXC has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on shares of Exelon from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Scotiabank lifted their price objective on shares of Exelon from $40.00 to $42.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Jefferies Financial Group initiated coverage on shares of Exelon in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective on the stock. Barclays lifted their price objective on shares of Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, UBS Group lifted their price objective on shares of Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.55.

Exelon Price Performance

Exelon stock opened at $36.52 on Wednesday. Exelon Co. has a one year low of $33.35 and a one year high of $41.19. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.97 and a current ratio of 1.09. The business has a fifty day moving average of $38.89 and a two-hundred day moving average of $37.86. The company has a market cap of $36.70 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 2.63 and a beta of 0.54.

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

Exelon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 11th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Friday, November 8th. Exelon’s dividend payout ratio (DPR) is presently 62.55%.

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.