Associated Banc Corp Acquires New Shares in Edison International (NYSE:EIX)

Associated Banc Corp purchased a new position in shares of Edison International (NYSE:EIX) in the third quarter, HoldingsChannel reports. The fund purchased 2,515 shares of the utilities provider’s stock, valued at approximately $219,000.

Other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC lifted its stake in shares of Edison International by 7.4% during the 1st quarter. Lazard Asset Management LLC now owns 11,841 shares of the utilities provider’s stock worth $836,000 after purchasing an additional 819 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Edison International by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 524,198 shares of the utilities provider’s stock valued at $37,078,000 after acquiring an additional 3,834 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of Edison International during the 1st quarter valued at about $270,000. Janus Henderson Group PLC lifted its holdings in shares of Edison International by 150.6% during the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after acquiring an additional 102,000 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Edison International by 6.5% in the first quarter. California State Teachers Retirement System now owns 788,336 shares of the utilities provider’s stock worth $55,759,000 after acquiring an additional 48,058 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

NYSE:EIX opened at $87.76 on Wednesday. The firm has a 50-day moving average of $84.70 and a two-hundred day moving average of $80.35. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock has a market cap of $33.97 billion, a P/E ratio of 25.73, a PEG ratio of 2.09 and a beta of 0.92. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the business posted $1.38 earnings per share. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EIX shares. Wells Fargo & Company lifted their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI raised their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Argus boosted their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Barclays lifted their price target on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.75.

Edison International Company 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.