Chevy Chase Trust Holdings LLC Sells 3,007 Shares of Edison International (NYSE:EIX)

Chevy Chase Trust Holdings LLC decreased its position in Edison International (NYSE:EIX) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 207,077 shares of the utilities provider’s stock after selling 3,007 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Edison International were worth $18,034,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EIX. Benjamin Edwards Inc. bought a new stake in Edison International in the 3rd quarter valued at approximately $1,100,000. Kestra Investment Management LLC acquired a new stake in shares of Edison International in the third quarter valued at approximately $333,000. True Wealth Design LLC lifted its position in shares of Edison International by 5,158.3% in the third quarter. True Wealth Design LLC now owns 631 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 619 shares in the last quarter. Edgestream Partners L.P. lifted its position in shares of Edison International by 102.6% in the third quarter. Edgestream Partners L.P. now owns 38,114 shares of the utilities provider’s stock worth $3,319,000 after purchasing an additional 19,303 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in Edison International by 8.3% during the third quarter. Rockefeller Capital Management L.P. now owns 173,630 shares of the utilities provider’s stock worth $15,118,000 after purchasing an additional 13,236 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on EIX shares. Barclays boosted their price target on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. UBS Group raised their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Evercore ISI upped their price target 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Stock Performance

Shares of EIX stock opened at $84.74 on Wednesday. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The company has a market capitalization of $32.81 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 2.05 and a beta of 0.92. The company has a 50-day simple moving average of $84.86 and a 200 day simple moving average of $80.76. 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 (NYSE:EIX) last issued 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. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 earnings per share. On average, sell-side analysts predict that Edison International will post 4.94 earnings per share for the current year.

Edison International Announces Dividend

The company also recently announced 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

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.