Teachers Retirement System of The State of Kentucky Trims Holdings in Edison International (NYSE:EIX)

Teachers Retirement System of The State of Kentucky cut its position in shares of Edison International (NYSE:EIX) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,415 shares of the utilities provider’s stock after selling 879 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Edison International were worth $2,184,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Rafferty Asset Management LLC raised its holdings in Edison International by 9.5% in the 4th 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 during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Edison International by 3.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 13,874 shares of the utilities provider’s stock worth $992,000 after buying an additional 435 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Edison International by 172.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 43,625 shares of the utilities provider’s stock worth $3,119,000 after buying an additional 27,601 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Edison International by 15.5% in the 4th quarter. 1832 Asset Management L.P. now owns 25,697 shares of the utilities provider’s stock valued at $1,837,000 after buying an additional 3,447 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of Edison International by 12.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 44,221 shares of the utilities provider’s stock valued at $3,161,000 after acquiring an additional 5,003 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the company’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 in the company, valued at $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO J Andrew Murphy sold 23,896 shares of the 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 directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,099 shares of company stock worth $7,223,342. Corporate insiders own 1.03% of the company’s stock.

Edison International Stock Down 0.5 %

Shares of Edison International stock opened at $86.18 on Friday. 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 business has a 50-day moving average of $84.56 and a 200-day moving average of $76.70. The company has a market capitalization of $33.16 billion, a PE ratio of 37.80, 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 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $1.01 EPS. Edison International’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. Edison International’s payout ratio is 136.84%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Argus boosted their target price 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. Royal Bank of Canada increased their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company upped their price target on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Bank of America initiated coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Barclays boosted their target price on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Hold” and an average target price of $86.67.

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.