Patriot Financial Group Insurance Agency LLC Increases Stake in Edison International (NYSE:EIX)

Patriot Financial Group Insurance Agency LLC increased its stake in Edison International (NYSE:EIX) by 6.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,389 shares of the utilities provider’s stock after buying an additional 724 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Edison International were worth $909,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Lake Street Advisors Group LLC boosted its holdings in shares of 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 raised its position in shares of Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after buying an additional 129 shares during the period. SFE Investment Counsel boosted 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 valued at $3,721,000 after acquiring an additional 130 shares during the last quarter. Assetmark Inc. grew its position in Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 157 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its stake in Edison International by 2.1% during the third quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock worth $670,000 after acquiring an additional 159 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EIX has been the topic of several research analyst reports. Jefferies Financial Group started coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley cut their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Barclays decreased their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Finally, UBS Group cut their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.03% of the stock is currently owned by company insiders.

Edison International Stock Down 3.0 %

Shares of NYSE:EIX opened at $56.02 on Wednesday. Edison International has a 12-month low of $55.27 and a 12-month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market cap of $21.69 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93. The company has a fifty day simple moving average of $76.66 and a 200 day simple moving average of $80.87.

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

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 5.91%. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is presently 97.07%.

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.