International Assets Investment Management LLC Takes $8.88 Million Position in Edison International (NYSE:EIX)

International Assets Investment Management LLC acquired a new stake in Edison International (NYSE:EIX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 101,951 shares of the utilities provider’s stock, valued at approximately $8,879,000.

A number of other large investors also recently modified their holdings of EIX. M&G Plc bought a new position in shares of Edison International in the first quarter valued at approximately $85,436,000. Capital International Investors boosted its position 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 during the period. Capital Research Global Investors boosted its position in shares of Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after acquiring an additional 345,189 shares during the period. Pzena Investment Management LLC lifted its position in Edison International by 2.3% during 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 purchasing an additional 305,459 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Edison International by 595.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after purchasing an additional 272,876 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Royal Bank of Canada lifted their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Guggenheim lifted their target price on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Morgan Stanley lifted their target price on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Finally, Evercore ISI lifted their target price on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,687,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is owned by insiders.

Edison International Stock Up 0.1 %

Shares of NYSE EIX opened at $83.24 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. Edison International has a 52 week low of $62.21 and a 52 week high of $88.77. The firm’s fifty day moving average is $85.50 and its 200 day moving average is $78.61. The company has a market cap of $32.15 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 1.94 and a beta of 0.91.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.39 by $0.12. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Monday, October 7th. Edison International’s payout ratio is 125.30%.

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.