AMF Tjanstepension AB Has $11.54 Million Stake in Edison International (NYSE:EIX)

AMF Tjanstepension AB raised its holdings in Edison International (NYSE:EIX) by 69.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 162,753 shares of the utilities provider’s stock after buying an additional 66,629 shares during the quarter. AMF Tjanstepension AB’s holdings in Edison International were worth $11,542,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. LPL Financial LLC grew its holdings in shares of Edison International by 10.7% during the 3rd quarter. LPL Financial LLC now owns 206,482 shares of the utilities provider’s stock worth $13,068,000 after purchasing an additional 20,002 shares in the last quarter. Mariner LLC raised its position in shares of Edison International by 3.2% during the third quarter. Mariner LLC now owns 34,447 shares of the utilities provider’s stock worth $2,180,000 after acquiring an additional 1,069 shares during the last quarter. Natixis Advisors L.P. grew its stake in shares of Edison International by 12.7% during the third quarter. Natixis Advisors L.P. now owns 175,855 shares of the utilities provider’s stock worth $11,130,000 after purchasing an additional 19,851 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Edison International by 61.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 5,236 shares of the utilities provider’s stock worth $331,000 after purchasing an additional 1,984 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of Edison International by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 166,093 shares of the utilities provider’s stock worth $10,512,000 after purchasing an additional 840 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity at Edison International

In other Edison International news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the transaction, the senior vice president now 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 is available at the SEC website. In other Edison International news, CEO J Andrew Murphy sold 9,794 shares of Edison International stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the sale, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The disclosure for this sale can be found here. Insiders sold 77,897 shares of company stock valued at $5,851,245 over the last 90 days. Insiders own 1.03% of the company’s stock.

Edison International Trading Down 0.3 %

Shares of Edison International stock opened at $71.81 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. Edison International has a 1-year low of $58.82 and a 1-year high of $77.04. The company’s fifty day simple moving average is $73.45 and its 200-day simple moving average is $70.45. The stock has a market capitalization of $27.63 billion, a PE ratio of 31.50 and a beta of 0.95.

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

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 4.34%. Edison International’s payout ratio is 136.84%.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of research reports. Mizuho boosted their price target on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. Royal Bank of Canada reduced their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. The Goldman Sachs Group initiated coverage on Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price on the stock. Argus raised their target price on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, Wells Fargo & Company upgraded Edison International from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $72.00 to $86.00 in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.40.

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.