Generali Asset Management SPA SGR Buys New Shares in Edison International (NYSE:EIX)

Generali Asset Management SPA SGR bought a new stake in Edison International (NYSE:EIX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 88,759 shares of the utilities provider’s stock, valued at approximately $7,087,000.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after buying an additional 224,337 shares during the period. FMR LLC boosted its position in Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the period. Geode Capital Management LLC boosted its position in Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after buying an additional 210,461 shares during the period. Amundi boosted its position in Edison International by 0.3% during the fourth quarter. Amundi now owns 3,118,404 shares of the utilities provider’s stock valued at $248,973,000 after buying an additional 10,396 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Edison International by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider’s stock valued at $209,191,000 after buying an additional 32,391 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

EIX has been the subject of a number of analyst reports. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Mizuho dropped their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group dropped their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

Edison International Stock Performance

Shares of EIX opened at $58.74 on Wednesday. Edison International has a one year low of $49.06 and a one year high of $88.77. The company has a 50-day simple moving average of $55.80 and a two-hundred day simple moving average of $74.01. The firm has a market capitalization of $22.61 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. On average, analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is 100.30%.

About Edison International

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.