Meeder Advisory Services Inc. Buys 1,498 Shares of Edison International (NYSE:EIX)

Meeder Advisory Services Inc. raised its position in shares of Edison International (NYSE:EIX) by 33.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,994 shares of the utilities provider’s stock after acquiring an additional 1,498 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Edison International were worth $430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Able Wealth Management LLC purchased a new position in Edison International during the 4th quarter valued at about $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Edison International during the second quarter valued at approximately $27,000. Global Trust Asset Management LLC purchased a new position in shares of Edison International during the first quarter valued at approximately $28,000. Country Trust Bank bought a new stake in shares of Edison International in the 2nd quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Edison International news, 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 completion of the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,099 shares of company stock valued at $7,223,342. Corporate insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Argus lifted their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Guggenheim upped their price target on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Bank of America began coverage on shares of Edison International in a research note on Thursday. They set a “buy” rating and a $95.00 price objective for the company. Morgan Stanley raised their price target on shares of Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Finally, UBS Group lifted their target price on 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, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Edison International currently has a consensus rating of “Hold” and a consensus price target of $84.67.

Edison International Price Performance

NYSE:EIX opened at $85.42 on Monday. The stock has a market cap of $32.99 billion, a PE ratio of 37.47 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The business’s 50-day simple moving average is $81.06 and its two-hundred day simple moving average is $74.94. Edison International has a 52 week low of $58.82 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (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 company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts forecast that Edison International will post 4.96 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.65%. Edison International’s dividend payout ratio is 136.84%.

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.