AMF Tjanstepension AB Increases Holdings in Edison International (NYSE:EIX)

AMF Tjanstepension AB grew its holdings in Edison International (NYSE:EIX) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,365 shares of the utilities provider’s stock after acquiring an additional 24,208 shares during the period. AMF Tjanstepension AB’s holdings in Edison International were worth $23,662,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in EIX. Advisory Services Network LLC purchased a new position in shares of Edison International in the fourth quarter valued at about $193,000. NEOS Investment Management LLC lifted its position in shares of Edison International by 45.5% in the fourth quarter. NEOS Investment Management LLC now owns 5,436 shares of the utilities provider’s stock valued at $389,000 after acquiring an additional 1,700 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of Edison International by 9.5% in the fourth quarter. Rafferty Asset Management LLC now owns 42,765 shares of the utilities provider’s stock valued at $3,057,000 after acquiring an additional 3,700 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Edison International by 3.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 13,874 shares of the utilities provider’s stock worth $992,000 after purchasing an additional 435 shares during the last quarter. Finally, Capital International Sarl increased its holdings in shares of Edison International by 17.9% in the fourth quarter. Capital International Sarl now owns 31,582 shares of the utilities provider’s stock worth $2,258,000 after purchasing an additional 4,806 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of EIX opened at $87.48 on Thursday. Edison International has a 12 month low of $58.82 and a 12 month high of $88.77. The stock has a fifty day moving average price of $84.20 and a 200-day moving average price of $76.51. 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 firm has a market cap of $33.78 billion, a PE ratio of 38.37, a P/E/G ratio of 2.01 and a beta of 0.91.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. 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 prior year, the business posted $1.01 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts predict that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Monday, October 7th. Edison International’s payout ratio is 136.84%.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. 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 ninety days. Company insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Evercore ISI lifted their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Morgan Stanley boosted their price objective on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Argus boosted their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Guggenheim boosted their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company boosted their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $86.17.

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.