E. Ohman J or Asset Management AB Cuts Holdings in Edison International (NYSE:EIX)

E. Ohman J or Asset Management AB trimmed its holdings in shares of Edison International (NYSE:EIX) by 10.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,700 shares of the utilities provider’s stock after selling 1,800 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Edison International were worth $1,367,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EIX. M&G Plc purchased a new position in Edison International in the first quarter worth $85,436,000. Capital International Investors grew its holdings in Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after purchasing an additional 795,950 shares during the last quarter. Capital Research Global Investors grew its holdings in Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after purchasing an additional 345,189 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Edison International by 2.3% in the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after purchasing an additional 305,459 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Edison International by 595.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after purchasing an additional 272,876 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edison International

In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO J Andrew Murphy sold 1,362 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,687,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,104 shares of company stock valued at $4,949,264. Corporate insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

EIX has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Royal Bank of Canada lifted 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. Evercore ISI lifted their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Morgan Stanley lifted their price objective on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Finally, Guggenheim lifted their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average price target of $87.55.

Edison International Stock Down 2.0 %

EIX opened at $83.88 on Friday. Edison International has a fifty-two week low of $61.64 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The company has a fifty day moving average of $85.51 and a two-hundred day moving average of $78.16. The stock has a market capitalization of $32.39 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 1.98 and a beta of 0.91.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts expect that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.72%. Edison International’s payout ratio is 125.30%.

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.