MetLife Investment Management LLC Sells 6,712 Shares of Exelon Co. (NASDAQ:EXC)

MetLife Investment Management LLC trimmed its stake in Exelon Co. (NASDAQ:EXC) by 2.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 260,032 shares of the company’s stock after selling 6,712 shares during the period. MetLife Investment Management LLC’s holdings in Exelon were worth $10,544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Exelon by 646.2% during the second quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock valued at $27,000 after acquiring an additional 672 shares during the period. J.Safra Asset Management Corp acquired a new position in shares of Exelon during the 2nd quarter worth about $28,000. American National Bank & Trust boosted its stake in Exelon by 178.8% during the 3rd quarter. American National Bank & Trust now owns 697 shares of the company’s stock valued at $28,000 after purchasing an additional 447 shares during the period. Abound Wealth Management grew its holdings in Exelon by 502.7% in 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 during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Exelon in the 3rd quarter worth approximately $32,000. 80.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group began coverage on Exelon in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Scotiabank raised their price target on shares of Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Barclays upped 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. UBS Group lifted their target price on Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, Morgan Stanley cut their price target on Exelon from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Exelon has a consensus rating of “Hold” and an average price target of $41.25.

Exelon Stock Up 0.1 %

Shares of NASDAQ:EXC opened at $39.51 on Friday. The company has a market capitalization of $39.70 billion, a PE ratio of 16.26, a P/E/G ratio of 2.82 and a beta of 0.54. 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 company’s fifty day moving average is $39.60 and its 200-day moving average is $37.88. Exelon Co. has a 52 week low of $33.35 and a 52 week high of $41.42.

Exelon (NASDAQ:EXC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. The firm had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Exelon had a net margin of 10.60% and a return on equity of 9.47%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 earnings per share. Equities research analysts predict that Exelon Co. will post 2.45 earnings per share for the current fiscal year.

Exelon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Friday, November 8th. Exelon’s dividend payout ratio is currently 62.55%.

About Exelon

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.