Independent Advisor Alliance Has $434,000 Holdings in Edison International (NYSE:EIX)

Independent Advisor Alliance raised its position in Edison International (NYSE:EIX) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,985 shares of the utilities provider’s stock after purchasing an additional 349 shares during the quarter. Independent Advisor Alliance’s holdings in Edison International were worth $434,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EIX. Clearbridge Investments LLC raised its position in Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after buying an additional 24,834 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Edison International by 1.8% in the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after purchasing an additional 67,089 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Edison International by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after purchasing an additional 28,240 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Edison International by 10.1% during the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock worth $148,768,000 after purchasing an additional 190,026 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Edison International by 15.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,635,880 shares of the utilities provider’s stock valued at $117,476,000 after purchasing an additional 218,762 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Edison International Stock Performance

NYSE EIX opened at $88.36 on Friday. The stock has a market cap of $34.21 billion, a PE ratio of 25.91, a P/E/G ratio of 2.09 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a 50-day moving average of $84.84 and a 200-day moving average of $80.46. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77.

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

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 91.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EIX shares. Morgan Stanley cut their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Argus increased their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, UBS Group boosted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.