Edison International (NYSE:EIX) Stock Holdings Lessened by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. cut its stake in shares of Edison International (NYSE:EIX) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,280 shares of the utilities provider’s stock after selling 910 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Edison International were worth $1,456,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EIX. Able Wealth Management LLC acquired a new position in Edison International during the fourth quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International in the 2nd quarter valued at about $27,000. Global Trust Asset Management LLC purchased a new stake in shares of Edison International in the first quarter worth approximately $28,000. Country Trust Bank acquired a new stake in shares of Edison International during the second quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in shares of Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock worth $7,223,342 over the last 90 days. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EIX shares. 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 research report on Friday, July 26th. Argus lifted their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. UBS Group boosted their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, Morgan Stanley lifted their target price on shares of Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Edison International currently has an average rating of “Hold” and a consensus target price of $85.83.

Edison International Trading Up 1.5 %

Edison International stock opened at $85.43 on Friday. Edison International has a 52 week low of $58.82 and a 52 week high of $88.77. 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 firm has a market capitalization of $32.99 billion, a PE ratio of 37.47, a PEG ratio of 1.99 and a beta of 0.91. The business’s 50-day simple moving average is $82.32 and its 200-day simple moving average is $75.47.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping 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 company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

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

Edison International Company 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.