Mather Group LLC. Invests $52,000 in Edison International (NYSE:EIX)

Mather Group LLC. bought a new stake in Edison International (NYSE:EIX) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 724 shares of the utilities provider’s stock, valued at approximately $52,000.

A number of other institutional investors have also added to or reduced their stakes in EIX. Able Wealth Management LLC bought a new position in shares of Edison International during the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Edison International in the 4th quarter valued at $27,000. WASHINGTON TRUST Co raised its stake in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 270 shares during the last quarter. Northwest Financial Advisors acquired a new position in shares of Edison International in the 4th quarter worth approximately $40,000. Finally, GAMMA Investing LLC bought a new stake in Edison International during the 4th quarter worth approximately $48,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 58,099 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Edison International news, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares in the company, valued at approximately $2,039,576.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Andrew Murphy sold 58,099 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,897 shares of company stock valued at $5,851,245. 1.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EIX has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on Edison International from $58.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 28th. The Goldman Sachs Group assumed coverage on Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price on the stock. Barclays boosted their target price on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Royal Bank of Canada cut their price target on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Finally, Argus lifted their price objective on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $77.70.

Edison International Stock Down 0.3 %

Shares of EIX stock opened at $71.64 on Monday. Edison International has a 12-month low of $58.82 and a 12-month high of $77.04. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. The firm has a fifty day moving average of $73.06 and a 200-day moving average of $70.33. The company has a market capitalization of $27.56 billion, a price-to-earnings ratio of 31.42 and a beta of 0.95.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter in the prior year, the company earned $1.09 EPS. The company’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts predict that Edison International will post 4.92 earnings per share for the current fiscal year.

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.