Assetmark Inc. Buys 157 Shares of Edison International (NYSE:EIX)

Assetmark Inc. increased its stake in shares of Edison International (NYSE:EIX) by 32.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 634 shares of the utilities provider’s stock after purchasing an additional 157 shares during the quarter. Assetmark Inc.’s holdings in Edison International were worth $55,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Highline Wealth Partners LLC purchased a new stake in Edison International in the third quarter worth $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International in the second quarter worth $27,000. Eastern Bank purchased a new stake in Edison International in the third quarter worth $27,000. Country Trust Bank purchased a new stake in Edison International in the second quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. increased its stake in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.5 %

Shares of NYSE EIX opened at $84.08 on Tuesday. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77. The business has a 50-day moving average price of $84.51 and a 200 day moving average price of $79.80. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market cap of $32.55 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92.

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

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Analyst Ratings Changes

A number of research firms have recently issued reports on EIX. Barclays increased their price target on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. 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 objective on the stock. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Insider Buying and Selling at Edison International

In related news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,878 shares of company stock worth $4,285,422. 1.03% of the stock is owned by insiders.

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.