Sompo Asset Management Co. Ltd. Acquires 8,280 Shares of Edison International (NYSE:EIX)

Sompo Asset Management Co. Ltd. grew its holdings in Edison International (NYSE:EIX) by 37.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,350 shares of the utilities provider’s stock after buying an additional 8,280 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Edison International were worth $2,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB boosted its holdings in Edison International by 3.3% in the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after acquiring an additional 16,614 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Edison International in the 4th quarter valued at about $235,000. KBC Group NV grew its position in shares of Edison International by 23.7% during the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after buying an additional 11,764 shares during the period. abrdn plc raised its stake in shares of 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 buying an additional 276,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Edison International by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after buying an additional 76,654 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of NYSE:EIX opened at $57.81 on Wednesday. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The company’s 50 day moving average price is $55.66 and its two-hundred day moving average price is $68.70. The firm has a market cap of $22.26 billion, a PE ratio of 16.95, a PEG ratio of 1.07 and a beta of 0.74. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Equities research analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on EIX shares. LADENBURG THALM/SH SH upgraded 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. Mizuho decreased their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. Finally, Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.75.

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.