Sompo Asset Management Co. Ltd. Has $1.46 Million Position in Edison International (NYSE:EIX)

Sompo Asset Management Co. Ltd. cut its holdings in Edison International (NYSE:EIX) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,280 shares of the utilities provider’s stock after selling 910 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Edison International were worth $1,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sei Investments Co. raised its position in shares of Edison International by 8.2% during the 2nd quarter. Sei Investments Co. now owns 347,813 shares of the utilities provider’s stock valued at $24,976,000 after acquiring an additional 26,246 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in Edison International by 206.5% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 222,581 shares of the utilities provider’s stock valued at $15,984,000 after buying an additional 149,951 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Edison International by 9.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,038 shares of the utilities provider’s stock worth $793,000 after buying an additional 980 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Edison International by 18.5% during the 2nd quarter. Intech Investment Management LLC now owns 54,800 shares of the utilities provider’s stock worth $3,935,000 after buying an additional 8,537 shares during the period. Finally, ProVise Management Group LLC increased its stake in shares of Edison International by 0.9% in the 2nd quarter. ProVise Management Group LLC now owns 69,565 shares of the utilities provider’s stock valued at $4,995,000 after acquiring an additional 610 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

NYSE:EIX opened at $85.43 on Friday. The firm has a fifty day simple moving average of $82.32 and a 200 day simple moving average of $75.47. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77. The stock has a market capitalization of $32.99 billion, a PE ratio of 37.47, a P/E/G ratio of 1.99 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04.

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

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were given a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.65%. Edison International’s dividend payout ratio (DPR) is 136.84%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Barclays increased their target price on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Bank of America began coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of Edison International in a research report on Monday, September 16th. Finally, Wells Fargo & Company upped their target price on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.83.

Insider Buying and Selling at Edison International

In other news, VP Natalie K. Schilling sold 2,341 shares of the firm’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 in the company, valued at approximately $507,040. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock worth $7,223,342 over the last ninety days. Insiders own 1.03% of the company’s stock.

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.