Commerzbank Aktiengesellschaft FI Takes $212,000 Position in Edison International (NYSE:EIX)

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Edison International (NYSE:EIX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,432 shares of the utilities provider’s stock, valued at approximately $212,000.

Several other institutional investors have also recently modified their holdings of the company. Plan Group Financial LLC bought a new position in shares of Edison International during the 3rd quarter valued at about $358,000. RBA Wealth Management LLC increased its position in shares of Edison International by 5.2% during the 3rd quarter. RBA Wealth Management LLC now owns 40,014 shares of the utilities provider’s stock valued at $3,485,000 after purchasing an additional 1,964 shares during the last quarter. Eastern Bank bought a new position in shares of Edison International during the 3rd quarter valued at about $27,000. Sweeney & Michel LLC bought a new position in shares of Edison International during the 3rd quarter valued at about $218,000. Finally, Foundations Investment Advisors LLC increased its position in shares of Edison International by 10.3% during the 3rd quarter. Foundations Investment Advisors LLC now owns 9,551 shares of the utilities provider’s stock valued at $832,000 after purchasing an additional 892 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EIX has been the topic of several recent research reports. Evercore ISI increased their price objective on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. UBS Group raised their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company raised their price target on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays reduced their price target on Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Finally, Guggenheim raised their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.55.

Insider Activity

In other news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,104 shares of company stock worth $4,949,264 in the last quarter. 1.03% of the stock is owned by company insiders.

Edison International Trading Down 0.5 %

NYSE EIX opened at $85.60 on Friday. Edison International has a fifty-two week low of $61.64 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The stock has a 50 day simple moving average of $85.47 and a two-hundred day simple moving average of $78.11. The stock has a market cap of $33.06 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 1.98 and a beta of 0.91.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. On average, analysts forecast that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s payout ratio is presently 125.30%.

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.