Raymond James & Associates Grows Stock Holdings in Edison International (NYSE:EIX)

Raymond James & Associates boosted its holdings in shares of Edison International (NYSE:EIX) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 403,309 shares of the utilities provider’s stock after purchasing an additional 23,441 shares during the quarter. Raymond James & Associates’ holdings in Edison International were worth $35,124,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Global Assets Advisory LLC purchased a new stake in shares of Edison International in the first quarter valued at $2,367,000. Brookstone Capital Management raised its stake in shares of Edison International by 3,503.3% in the first quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock valued at $9,573,000 after acquiring an additional 131,585 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Edison International by 12.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,508 shares of the utilities provider’s stock valued at $1,592,000 after acquiring an additional 2,431 shares during the period. Ausbil Investment Management Ltd raised its stake in shares of Edison International by 4.8% in the first quarter. Ausbil Investment Management Ltd now owns 141,644 shares of the utilities provider’s stock valued at $9,977,000 after acquiring an additional 6,545 shares during the period. Finally, AMF Tjanstepension AB raised its stake in shares of Edison International by 69.3% in the first quarter. AMF Tjanstepension AB now owns 162,753 shares of the utilities provider’s stock valued at $11,542,000 after acquiring an additional 66,629 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were 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 directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,099 shares of company stock valued at $7,223,342 in the last three months. 1.03% of the stock is owned by insiders.

Edison International Stock Up 0.2 %

NYSE:EIX opened at $86.00 on Thursday. The stock has a market capitalization of $33.09 billion, a P/E ratio of 37.72, a P/E/G ratio of 1.98 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The company’s 50-day simple moving average is $85.47 and its 200-day simple moving average is $78.11. Edison International has a fifty-two week low of $61.64 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last announced 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. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. On average, equities analysts anticipate that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed 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 3.63%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s payout ratio is currently 136.84%.

Analysts Set New Price Targets

EIX has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Argus upped their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Bank of America initiated coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Guggenheim increased their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, UBS Group increased their target price 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.55.

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.