Asset Management One Co. Ltd. Grows Holdings in Edison International (NYSE:EIX)

Asset Management One Co. Ltd. increased its position in shares of Edison International (NYSE:EIX) by 7.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 199,035 shares of the utilities provider’s stock after purchasing an additional 13,820 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.05% of Edison International worth $17,334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new position in Edison International during the third quarter worth about $26,000. Eastern Bank purchased a new position in Edison International during the third quarter worth about $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Edison International during the second quarter worth about $27,000. Concord Wealth Partners boosted its holdings in Edison International by 277.0% during the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 277 shares during the last quarter. Finally, Country Trust Bank bought a new stake in Edison International in the second quarter worth about $29,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EIX has been the topic of several research reports. Royal Bank of Canada lifted their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Guggenheim boosted their price target on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. UBS Group boosted their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Bank of America initiated coverage on shares of Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.36.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,877 shares of company stock valued at $4,285,341. Insiders own 1.20% of the company’s stock.

Edison International Stock Performance

Edison International stock opened at $81.97 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 1-year low of $62.21 and a 1-year high of $88.77. The firm has a market capitalization of $31.73 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.89 and a beta of 0.92. The firm’s 50 day simple moving average is $85.25 and its 200 day simple moving average is $79.06.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the company earned $1.38 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts expect that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

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.