Russell Investments Group Ltd. Purchases 112,588 Shares of Edison International (NYSE:EIX)

Russell Investments Group Ltd. lifted its position in Edison International (NYSE:EIX) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,210,887 shares of the utilities provider’s stock after buying an additional 112,588 shares during the period. Russell Investments Group Ltd.’s holdings in Edison International were worth $96,639,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Jamison Private Wealth Management Inc. lifted its position in Edison International by 2.6% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after acquiring an additional 174 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Edison International by 2.9% in the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 176 shares in the last quarter. Old Port Advisors boosted its position in shares of Edison International by 0.9% during the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock worth $1,540,000 after buying an additional 180 shares during the period. Centre Asset Management LLC grew its holdings in shares of Edison International by 8.1% during the fourth quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider’s stock worth $212,000 after buying an additional 199 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its position in Edison International by 88.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock opened at $54.71 on Friday. The company has a market capitalization of $21.06 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a 50-day simple moving average of $54.84 and a 200 day simple moving average of $71.55.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The firm had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is 100.30%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group decreased 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 report on Tuesday, March 4th. Mizuho lowered their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Morgan Stanley increased their price target on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research report on Wednesday, January 15th. Finally, UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and an average price target 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.