Edison International (NYSE:EIX) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Edison International (NYSE:EIX) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 929,659 shares of the utilities provider’s stock after selling 3,207 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Edison International worth $74,224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Swedbank AB increased its stake in Edison International by 3.3% during the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after buying an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in shares of Edison International in the fourth quarter valued at approximately $235,000. KBC Group NV increased its stake in shares of Edison International by 23.7% during the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after acquiring an additional 11,764 shares during the period. abrdn plc raised its holdings in Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after purchasing an additional 276,656 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Edison International in the third quarter worth approximately $1,387,000. 88.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EIX. Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. UBS Group cut their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley cut their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Edison International Trading Down 2.3 %

Edison International stock opened at $49.99 on Monday. The company has a 50 day moving average price of $70.50 and a 200 day moving average price of $79.46. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52 week low of $49.92 and a 52 week high of $88.77. The firm has a market capitalization of $19.36 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.05 and a beta of 0.90.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 6.62%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s payout ratio is presently 97.07%.

About Edison International

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.