Edison International (NYSE:EIX) Shares Sold by AIA Group Ltd

AIA Group Ltd lowered its holdings in Edison International (NYSE:EIX) by 19.8% during the third quarter, HoldingsChannel.com reports. The fund owned 22,795 shares of the utilities provider’s stock after selling 5,630 shares during the period. AIA Group Ltd’s holdings in Edison International were worth $1,985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Norden Group LLC bought a new position in Edison International during the 1st quarter worth $369,000. Geneos Wealth Management Inc. lifted its position in Edison International by 27.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,734 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 370 shares during the last quarter. Empirical Finance LLC boosted its stake in Edison International by 3.5% during the 1st quarter. Empirical Finance LLC now owns 13,696 shares of the utilities provider’s stock valued at $969,000 after purchasing an additional 464 shares during the period. Quantbot Technologies LP grew its position in Edison International by 88.3% in the 1st quarter. Quantbot Technologies LP now owns 11,909 shares of the utilities provider’s stock worth $842,000 after purchasing an additional 5,583 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Edison International by 29.8% in the first quarter. Empowered Funds LLC now owns 5,158 shares of the utilities provider’s stock valued at $365,000 after purchasing an additional 1,185 shares during the period. 88.95% of the stock is owned by institutional investors.

Edison International Price Performance

EIX stock opened at $83.13 on Friday. The firm has a 50-day moving average of $84.99 and a two-hundred day moving average of $79.18. The firm has a market capitalization of $32.18 billion, a PE ratio of 24.38, a P/E/G ratio of 1.88 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a one year low of $62.21 and a one year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.75%. Edison International’s dividend payout ratio is 91.50%.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,878 shares of company stock valued at $4,285,422. Company insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Argus raised their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Wells Fargo & Company raised their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Jefferies Financial Group began coverage on Edison International in a report on Thursday. They issued a “buy” rating and a $93.00 price objective for the company. Finally, Morgan Stanley lifted their target price on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.75.

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.