Atomi Financial Group Inc. Raises Position in Edison International (NYSE:EIX)

Atomi Financial Group Inc. increased its holdings in Edison International (NYSE:EIX) by 6.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,360 shares of the utilities provider’s stock after buying an additional 275 shares during the period. Atomi Financial Group Inc.’s holdings in Edison International were worth $380,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dynamic Advisor Solutions LLC raised its position in shares of Edison International by 2.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock worth $670,000 after buying an additional 159 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of Edison International in the third quarter worth $528,000. GAMMA Investing LLC raised its position in shares of Edison International by 21.7% in the third quarter. GAMMA Investing LLC now owns 2,607 shares of the utilities provider’s stock worth $227,000 after buying an additional 464 shares in the last quarter. Czech National Bank raised its position in shares of Edison International by 7.3% in the third quarter. Czech National Bank now owns 78,668 shares of the utilities provider’s stock worth $6,851,000 after buying an additional 5,350 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Edison International in the third quarter worth $2,137,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.7 %

EIX opened at $83.61 on Friday. The stock has a market cap of $32.17 billion, a price-to-earnings ratio of 36.67, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. 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 firm’s fifty day moving average is $84.91 and its 200 day moving average is $77.10.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. On average, sell-side analysts forecast that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.73%. Edison International’s payout ratio is 136.84%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America assumed coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Argus increased their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays increased their target price on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Royal Bank of Canada increased their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Guggenheim increased their target price on Edison International from $80.00 to $83.00 and gave the company a “buy” 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $86.67.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,541,933.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at $507,040. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,099 shares of company stock worth $7,223,342. Insiders own 1.03% of the company’s stock.

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.