State Street Corp Has $2.83 Billion Stock Holdings in Edison International (NYSE:EIX)

State Street Corp grew its holdings in Edison International (NYSE:EIX) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,549,936 shares of the utilities provider’s stock after purchasing an additional 224,337 shares during the quarter. State Street Corp owned about 0.08% of Edison International worth $2,834,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new position in shares of Edison International in the 3rd quarter valued at about $26,000. Eastern Bank acquired a new position in Edison International during the 3rd quarter worth approximately $27,000. Larson Financial Group LLC raised its stake in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new position in Edison International during the 3rd quarter worth approximately $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Edison International during the 2nd quarter worth approximately $27,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EIX shares. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Barclays upped their price target on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Argus upped their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Royal Bank of Canada upped their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, UBS Group boosted their price objective on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Stock Performance

EIX stock opened at $84.93 on Friday. The firm has a market cap of $32.88 billion, a PE ratio of 24.91, a P/E/G ratio of 2.03 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The business has a 50 day moving average of $84.81 and a 200-day moving average of $80.81. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 earnings per share. As a group, sell-side analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is presently 91.50%.

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.