Royal London Asset Management Ltd. Sells 3,802 Shares of Edison International (NYSE:EIX)

Royal London Asset Management Ltd. decreased its holdings in Edison International (NYSE:EIX) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 393,903 shares of the utilities provider’s stock after selling 3,802 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.10% of Edison International worth $31,449,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vinva Investment Management Ltd raised its position in Edison International by 148.2% in the 4th quarter. Vinva Investment Management Ltd now owns 32,317 shares of the utilities provider’s stock valued at $2,575,000 after purchasing an additional 19,294 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in Edison International in the 4th quarter valued at $7,087,000. Cozad Asset Management Inc. raised its position in Edison International by 26.9% in the 4th quarter. Cozad Asset Management Inc. now owns 3,205 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 680 shares during the last quarter. Cibc World Markets Corp raised its position in Edison International by 16.6% in the 4th quarter. Cibc World Markets Corp now owns 61,064 shares of the utilities provider’s stock valued at $4,875,000 after purchasing an additional 8,695 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in Edison International by 0.6% in the 4th quarter. Corient Private Wealth LLC now owns 56,285 shares of the utilities provider’s stock valued at $4,494,000 after purchasing an additional 351 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on EIX shares. The Goldman Sachs Group lowered their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. Wells Fargo & Company lowered their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, UBS Group raised Edison International from a “neutral” rating to a “buy” rating and lowered their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Performance

EIX stock opened at $58.92 on Friday. The business’s 50-day moving average price is $55.37 and its two-hundred day moving average price is $73.80. 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 $22.68 billion, a PE ratio of 17.28, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). The business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, research analysts forecast that Edison International will post 4.95 earnings per share for the current 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 issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.62%. Edison International’s dividend payout ratio is presently 100.30%.

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.