Econ Financial Services Corp Acquires New Position in Exelon Co. (NASDAQ:EXC)

Econ Financial Services Corp bought a new position in shares of Exelon Co. (NASDAQ:EXC) in the fourth quarter, Holdings Channel reports. The firm bought 48,790 shares of the company’s stock, valued at approximately $1,836,000.

A number of other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Exelon by 109.0% in the third quarter. JPMorgan Chase & Co. now owns 5,884,282 shares of the company’s stock worth $238,608,000 after purchasing an additional 3,068,309 shares during the period. State Street Corp increased its position in shares of Exelon by 3.7% in the 3rd quarter. State Street Corp now owns 60,169,219 shares of the company’s stock valued at $2,439,862,000 after buying an additional 2,156,259 shares in the last quarter. Nordea Investment Management AB raised its stake in Exelon by 418.1% during the 4th quarter. Nordea Investment Management AB now owns 2,501,392 shares of the company’s stock worth $94,152,000 after buying an additional 2,018,604 shares during the period. FMR LLC lifted its holdings in Exelon by 18.7% during the third quarter. FMR LLC now owns 11,782,549 shares of the company’s stock worth $477,782,000 after acquiring an additional 1,858,502 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Exelon by 212.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,903,482 shares of the company’s stock worth $71,647,000 after acquiring an additional 1,293,753 shares in the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.

Insider Activity at Exelon

In other news, EVP Colette D. Honorable sold 1,463 shares of Exelon stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $40.57, for a total value of $59,353.91. Following the completion of the transaction, the executive vice president now owns 2,271 shares of the company’s stock, valued at $92,134.47. This trade represents a 39.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is owned by company insiders.

Exelon Stock Down 0.1 %

Exelon stock opened at $40.54 on Wednesday. The company has a fifty day simple moving average of $38.27 and a 200 day simple moving average of $38.63. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.66. Exelon Co. has a 1-year low of $33.35 and a 1-year high of $41.19. The company has a market cap of $40.74 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.66 and a beta of 0.56.

Wall Street Analysts Forecast Growth

EXC has been the subject of several recent analyst reports. Evercore ISI upgraded Exelon from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $43.00 to $44.00 in a report on Tuesday, January 21st. Barclays lowered their target price on Exelon from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Morgan Stanley cut their price target on shares of Exelon from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Scotiabank increased their price objective on shares of Exelon from $40.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Finally, Guggenheim raised shares of Exelon from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.13.

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.