Allianz SE Buys Shares of 10,400 Edison International (NYSE:EIX)

Allianz SE purchased a new position in shares of Edison International (NYSE:EIX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,400 shares of the utilities provider’s stock, valued at approximately $829,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after buying an additional 1,559,501 shares during the period. State Street Corp grew its stake in shares of Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after acquiring an additional 224,337 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after acquiring an additional 210,461 shares during the period. Norges Bank acquired a new stake in shares of Edison International in the fourth quarter valued at $323,443,000. Finally, American Century Companies Inc. boosted its holdings in Edison International by 2.1% in the fourth quarter. American Century Companies Inc. now owns 3,284,870 shares of the utilities provider’s stock valued at $262,264,000 after purchasing an additional 69,074 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 1.6 %

NYSE EIX opened at $58.20 on Monday. The firm’s fifty day moving average is $55.00 and its two-hundred day moving average is $72.42. Edison International has a one year low of $49.06 and a one year high of $88.77. 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 market cap of $22.41 billion, a PE ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 0.87.

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 the consensus estimate of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Analyst Ratings Changes

A number of research firms have issued reports on EIX. Wells Fargo & Company reduced their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. The Goldman Sachs Group lowered their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley increased their price objective on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. Finally, Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. One research 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. According to data from MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and a consensus target price of $76.82.

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.