Hartford Investment Management Co. Has $2.13 Million Holdings in Edison International (NYSE:EIX)

Hartford Investment Management Co. lessened its position in shares of Edison International (NYSE:EIX) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,434 shares of the utilities provider’s stock after selling 286 shares during the period. Hartford Investment Management Co.’s holdings in Edison International were worth $2,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in Edison International by 1.7% in the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares during the period. Pzena Investment Management LLC boosted its position in shares of Edison International by 2.3% in the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after acquiring an additional 305,459 shares during the period. Capital International Investors grew its stake in shares of Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after acquiring an additional 795,950 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after acquiring an additional 24,834 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Edison International by 1.8% during the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after acquiring an additional 67,089 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EIX. Morgan Stanley increased their target price on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Barclays lowered their price objective on Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Bank of America initiated coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Evercore ISI increased their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Guggenheim boosted their price target on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.55.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,575,159.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO J Andrew Murphy sold 32,505 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,575,159.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,104 shares of company stock valued at $4,949,264 in the last 90 days. 1.03% of the stock is owned by corporate insiders.

Edison International Trading Down 0.5 %

EIX opened at $85.60 on Friday. The company has a market cap of $33.06 billion, a P/E ratio of 34.38, a PEG ratio of 1.98 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The company’s 50 day moving average is $85.47 and its 200-day moving average is $78.11. Edison International has a 1-year low of $61.64 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. Equities research analysts predict that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 125.30%.

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.