Axa S.A. Acquires 27,671 Shares of Edison International (NYSE:EIX)

Axa S.A. increased its holdings in Edison International (NYSE:EIX) by 34.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 108,429 shares of the utilities provider’s stock after buying an additional 27,671 shares during the quarter. Axa S.A.’s holdings in Edison International were worth $7,786,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EIX. Advisory Services Network LLC bought a new stake in shares of Edison International in the fourth quarter worth approximately $193,000. TD Asset Management Inc grew its position in Edison International by 6.2% in the 4th quarter. TD Asset Management Inc now owns 137,873 shares of the utilities provider’s stock worth $9,857,000 after purchasing an additional 8,040 shares during the period. Allianz Asset Management GmbH raised its stake in Edison International by 50.2% during the 4th quarter. Allianz Asset Management GmbH now owns 139,615 shares of the utilities provider’s stock valued at $9,981,000 after buying an additional 46,674 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Edison International by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 167,733 shares of the utilities provider’s stock valued at $11,991,000 after buying an additional 1,640 shares during the period. Finally, Bank of Nova Scotia boosted its stake in shares of Edison International by 157.0% in the 4th quarter. Bank of Nova Scotia now owns 192,963 shares of the utilities provider’s stock worth $13,794,000 after buying an additional 117,889 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. UBS Group raised their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and set a $94.00 target price on shares of Edison International in a research report on Monday, September 16th. Wells Fargo & Company increased their price target on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Evercore ISI boosted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Edison International presently has an average rating of “Hold” and an average target price of $86.17.

Edison International Trading Up 0.7 %

Shares of EIX opened at $86.81 on Friday. The firm has a market cap of $33.52 billion, a P/E ratio of 38.07, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The company has a 50 day simple moving average of $83.48 and a two-hundred day simple moving average of $76.07.

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, equities analysts expect 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. Shareholders of record on Monday, October 7th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s dividend payout ratio is presently 136.84%.

Insiders Place Their Bets

In related news, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,575,159.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Natalie K. Schilling sold 2,341 shares of the 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 completion of the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 32,505 shares of Edison International stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock valued at $7,223,342 in the last quarter. 1.03% of the stock is currently owned by insiders.

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.