Axxcess Wealth Management LLC Sells 145 Shares of Edison International (NYSE:EIX)

Axxcess Wealth Management LLC lowered its stake in shares of Edison International (NYSE:EIX) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,691 shares of the utilities provider’s stock after selling 145 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Edison International were worth $409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in EIX. Highline Wealth Partners LLC purchased a new position in shares of Edison International in the third quarter worth about $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International in the second quarter valued at approximately $27,000. Eastern Bank acquired a new stake in shares of Edison International in the third quarter worth approximately $27,000. Country Trust Bank acquired a new stake in shares of Edison International in the second quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of Edison International stock opened at $82.18 on Thursday. The business’s fifty day moving average price is $84.83 and its 200 day moving average price is $79.48. 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 has a twelve month low of $63.15 and a twelve month high of $88.77. The stock has a market capitalization of $31.82 billion, a P/E ratio of 24.10, a PEG ratio of 1.98 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, topping 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 business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the previous year, the company earned $1.38 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, research analysts anticipate that Edison International will post 4.95 earnings per share for the current 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 dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.80%. Edison International’s dividend payout ratio is presently 91.50%.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,878 shares of company stock worth $4,285,422. Company insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EIX shares. UBS Group boosted their price objective on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group assumed coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Morgan Stanley boosted their price objective on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Finally, Barclays upped their price target on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International 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.