Janney Montgomery Scott LLC Sells 412 Shares of Edison International (NYSE:EIX)

Janney Montgomery Scott LLC lessened its position in Edison International (NYSE:EIX) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,932 shares of the utilities provider’s stock after selling 412 shares during the period. Janney Montgomery Scott LLC’s holdings in Edison International were worth $7,919,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of EIX. Highline Wealth Partners LLC acquired a new stake in Edison International during the 3rd quarter worth $26,000. Eastern Bank bought a new position in shares of Edison International during the 3rd quarter valued at about $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International in the 2nd quarter valued at approximately $27,000. Concord Wealth Partners increased its stake in Edison International by 277.0% during the 3rd quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 277 shares in the last quarter. Finally, Country Trust Bank acquired a new stake in Edison International during the 2nd quarter worth approximately $29,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,878 shares of company stock worth $4,285,422. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EIX has been the subject of several research analyst reports. Argus upped their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Barclays upped their target price on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Guggenheim increased their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Jefferies Financial Group started coverage on Edison International in a report on Thursday. They set a “buy” rating and a $93.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Price Performance

NYSE:EIX opened at $81.47 on Friday. The stock has a market capitalization of $31.54 billion, a PE ratio of 23.89, a P/E/G ratio of 1.88 and a beta of 0.92. Edison International has a 1-year low of $62.21 and a 1-year high of $88.77. The firm has a fifty day simple moving average of $85.17 and a 200 day simple moving average of $79.08. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 EPS. On average, research analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a $0.78 dividend. 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 3.83%. Edison International’s payout ratio is 91.50%.

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.