Assetmark Inc. Buys 157 Shares of Edison International (NYSE:EIX)

Assetmark Inc. lifted its stake in shares of Edison International (NYSE:EIX) by 32.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 634 shares of the utilities provider’s stock after acquiring an additional 157 shares during the period. Assetmark Inc.’s holdings in Edison International were worth $55,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Highline Wealth Partners LLC acquired a new position in Edison International during the third quarter worth $26,000. Eastern Bank acquired a new position in Edison International during the third quarter worth $27,000. Ashton Thomas Private Wealth LLC acquired a new position in Edison International during the second quarter worth $27,000. Concord Wealth Partners boosted its holdings in Edison International by 277.0% during the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 277 shares during the last quarter. Finally, Country Trust Bank acquired a new position in Edison International during the second quarter worth $29,000. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.5 %

EIX stock opened at $84.08 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company’s 50 day moving average is $84.51 and its 200 day moving average is $79.80. The stock has a market cap of $32.55 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period last year, the business earned $1.38 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Sell-side analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.71%. Edison International’s payout ratio is 91.50%.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,878 shares of company stock worth $4,285,422. 1.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank of Canada increased their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. UBS Group increased their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley increased their price target on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Finally, Argus raised their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.75.

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.