Sumitomo Mitsui Trust Group Inc. Has $81.24 Million Stock Holdings in Edison International (NYSE:EIX)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Edison International (NYSE:EIX) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 932,866 shares of the utilities provider’s stock after acquiring an additional 8,586 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Edison International were worth $81,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC lifted its stake in Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC grew its stake in Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 129 shares during the period. SFE Investment Counsel increased its holdings in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares in the last quarter. Equitable Trust Co. lifted its stake in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after buying an additional 132 shares during the period. Finally, TIAA Trust National Association boosted its holdings in shares of Edison International by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after buying an additional 134 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EIX. Royal Bank of Canada boosted 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. Evercore ISI increased their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. UBS Group raised their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Finally, Guggenheim lifted their price target 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Trading Down 0.0 %

Shares of EIX stock opened at $82.14 on Friday. The company has a market capitalization of $31.80 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.98 and a beta of 0.92. 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 company has a 50-day simple moving average of $84.72 and a two-hundred day simple moving average of $79.50. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $1.38 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Insider Activity

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. This represents a 54.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred 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. Insiders have sold a total of 50,878 shares of company stock valued at $4,285,422 over the last quarter. Company insiders own 1.03% of the company’s stock.

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.