Confluence Wealth Services Inc. Sells 1,321 Shares of Exelon Co. (NASDAQ:EXC)

Confluence Wealth Services Inc. cut its holdings in Exelon Co. (NASDAQ:EXC) by 12.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,922 shares of the company’s stock after selling 1,321 shares during the period. Confluence Wealth Services Inc.’s holdings in Exelon were worth $362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Crewe Advisors LLC purchased a new position in Exelon in the first quarter worth about $26,000. Versant Capital Management Inc boosted its holdings in shares of Exelon by 646.2% in the 2nd quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock worth $27,000 after purchasing an additional 672 shares during the period. J.Safra Asset Management Corp bought a new position in shares of Exelon during the 2nd quarter valued at approximately $28,000. American National Bank & Trust raised its holdings 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 buying an additional 447 shares during the period. Finally, Abound Wealth Management lifted its position in Exelon by 502.7% in the second quarter. Abound Wealth Management now owns 892 shares of the company’s stock worth $31,000 after buying an additional 744 shares during the last quarter. 80.92% of the stock is currently owned by institutional investors.

Exelon Stock Down 0.5 %

EXC stock opened at $37.97 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The firm’s 50-day simple moving average is $39.66 and its 200 day simple moving average is $37.74. The stock has a market cap of $38.15 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 2.84 and a beta of 0.54. Exelon Co. has a fifty-two week low of $33.35 and a fifty-two week high of $41.42.

Exelon (NASDAQ:EXC) last released its earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.15 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the previous year, the company earned $0.67 earnings per share. Exelon’s revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that Exelon Co. will post 2.45 EPS for the current year.

Exelon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a yield of 4.00%. Exelon’s payout ratio is 62.55%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays increased their target price on Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Scotiabank lifted their price objective on shares of Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group started 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. Wells Fargo & Company lifted their price target on shares of Exelon from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, UBS Group increased their price objective on Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Exelon has a consensus rating of “Hold” and a consensus target price of $41.33.

Exelon 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.