Groupama Asset Managment Grows Stock Holdings in Edison International $EIX

Groupama Asset Managment grew its position in Edison International (NYSE:EIX) by 59.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 46,531 shares of the utilities provider’s stock after purchasing an additional 17,323 shares during the period. Groupama Asset Managment’s holdings in Edison International were worth $2,372,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EIX. Kentucky Trust Co grew its stake in Edison International by 66.7% in the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of Edison International in the second quarter valued at about $32,000. Zions Bancorporation National Association UT acquired a new stake in shares of Edison International in the first quarter valued at approximately $35,000. Laurel Wealth Advisors LLC grew its position in shares of Edison International by 5,064.3% in the second quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 709 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in shares of Edison International during the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Transactions at Edison International

In related news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the completion of the transaction, the director owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Cowen started coverage on Edison International in a research report on Wednesday, October 15th. They set a “buy” rating for the company. Zacks Research raised shares of Edison International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, LADENBURG THALM/SH SH upped their target price on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.10.

Edison International Price Performance

Shares of NYSE:EIX opened at $59.08 on Friday. The company has a market cap of $22.73 billion, a P/E ratio of 7.72, a P/E/G ratio of 0.83 and a beta of 0.85. The business has a fifty day simple moving average of $56.47 and a 200-day simple moving average of $54.66. Edison International has a 52 week low of $47.73 and a 52 week high of $88.61. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.18. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Equities research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 7th were issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Tuesday, October 7th. Edison International’s payout ratio is presently 43.27%.

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.