CreativeOne Wealth LLC acquired a new stake in Edison International (NYSE:EIX – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,246 shares of the utilities provider’s stock, valued at approximately $230,000.
A number of other institutional investors have also modified their holdings of EIX. Assenagon Asset Management S.A. grew its holdings in Edison International by 25.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 17,767 shares of the utilities provider’s stock worth $1,270,000 after acquiring an additional 3,565 shares during the period. Blue Trust Inc. increased its holdings in shares of Edison International by 70.9% during the 4th quarter. Blue Trust Inc. now owns 800 shares of the utilities provider’s stock valued at $57,000 after purchasing an additional 332 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Edison International by 11.1% in the 4th quarter. Fifth Third Bancorp now owns 11,480 shares of the utilities provider’s stock valued at $821,000 after purchasing an additional 1,151 shares during the period. Spirit of America Management Corp NY boosted its holdings in Edison International by 4.0% during the fourth quarter. Spirit of America Management Corp NY now owns 6,450 shares of the utilities provider’s stock worth $461,000 after buying an additional 250 shares in the last quarter. Finally, Zimmermann Investment Management & Planning LLC acquired a new stake in Edison International during the fourth quarter valued at $274,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.
Insider Buying and Selling at Edison International
In other news, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Edison International news, SVP Caroline Choi sold 10,004 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the sale, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,897 shares of company stock valued at $5,851,245. Insiders own 1.03% of the company’s stock.
Edison International Trading Up 2.7 %
EIX opened at $78.51 on Friday. Edison International has a 52 week low of $58.82 and a 52 week high of $79.50. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. The business has a fifty day simple moving average of $73.81 and a 200-day simple moving average of $70.86. The firm has a market cap of $30.21 billion, a P/E ratio of 34.43 and a beta of 0.91.
Edison International (NYSE:EIX – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Edison International had a net margin of 6.60% and a return on equity of 13.07%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, equities analysts expect that Edison International will post 4.92 earnings per share for the current year.
Edison International Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.97%. Edison International’s payout ratio is 136.84%.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Morgan Stanley decreased their price objective on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. Mizuho upped their price target on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Argus upped their target price on Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. UBS Group cut shares of Edison International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $83.00 to $82.00 in a research note on Friday, July 19th. Finally, Guggenheim boosted their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.82.
Get Our Latest Research Report on EIX
Edison International Profile
Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.
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