Insider Selling: Edison International (NYSE:EIX) VP Sells 25,619 Shares of Stock

Edison International (NYSE:EIX) VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Edison International Stock Performance

Edison International stock traded down $0.13 during mid-day trading on Monday, hitting $81.00. The company had a trading volume of 2,914,543 shares, compared to its average volume of 2,004,074. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $62.21 and a 12-month high of $88.77. The company’s fifty day moving average is $85.39 and its 200-day moving average is $78.89. The company has a market capitalization of $31.36 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.92 and a beta of 0.92.

Edison International (NYSE:EIX) last announced 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. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the firm posted $1.38 EPS. The business’s revenue was up 10.6% on a year-over-year basis. Equities research analysts predict that Edison International will post 4.94 EPS for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.85%. Edison International’s dividend payout ratio (DPR) is 91.50%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EIX. Meritage Portfolio Management acquired a new position in Edison International in the 3rd quarter valued at $239,000. Crossmark Global Holdings Inc. raised its stake in Edison International by 3.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 19,229 shares of the utilities provider’s stock valued at $1,675,000 after purchasing an additional 673 shares during the last quarter. Baker Avenue Asset Management LP acquired a new position in Edison International in the 3rd quarter valued at $2,291,000. Legacy Capital Wealth Partners LLC acquired a new position in Edison International in the 3rd quarter valued at $217,000. Finally, Assetmark Inc. raised its stake in Edison International by 32.9% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EIX shares. Bank of America started coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Guggenheim increased their price target on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. UBS Group increased their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, Barclays increased their price target on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.36.

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.