Edison International (NYSE:EIX) Shares Sold by AGF Management Ltd.

AGF Management Ltd. cut its stake in Edison International (NYSE:EIX) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,560 shares of the utilities provider’s stock after selling 746 shares during the quarter. AGF Management Ltd.’s holdings in Edison International were worth $2,984,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EIX. Equitable Trust Co. grew its stake in shares of Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after buying an additional 132 shares in the last quarter. TIAA Trust National Association grew its position in Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after acquiring an additional 134 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the period. Asset Dedication LLC lifted its position in shares of Edison International by 37.5% during the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 150 shares in the last quarter. Finally, Carson Advisory Inc. boosted its stake in shares of Edison International by 0.3% in the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE EIX opened at $84.60 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $32.67 billion, a price-to-earnings ratio of 37.11 and a beta of 0.91. Edison International has a twelve month low of $58.82 and a twelve month high of $88.77. The business has a 50 day simple moving average of $80.80 and a 200-day simple moving average of $74.71.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that Edison International will post 4.96 earnings per share for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.69%. Edison International’s payout ratio is currently 136.84%.

Analyst Ratings Changes

EIX has been the topic of several analyst reports. Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Mizuho increased their price target on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. Barclays lifted their price objective on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Finally, Morgan Stanley upped their target price on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $84.67.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,541,933.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Natalie K. Schilling sold 2,341 shares of Edison International 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 sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 of the company’s stock, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock worth $7,223,342 over the last ninety days. Company insiders own 1.03% of the company’s stock.

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.