Assenagon Asset Management S.A. Has $2.40 Million Position in Edison International (NYSE:EIX)

Assenagon Asset Management S.A. increased its position in shares of Edison International (NYSE:EIX) by 119.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,014 shares of the utilities provider’s stock after buying an additional 16,362 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Edison International were worth $2,396,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in shares of Edison International by 87.9% during the 2nd quarter. Federated Hermes Inc. now owns 3,326 shares of the utilities provider’s stock worth $239,000 after purchasing an additional 1,556 shares in the last quarter. Blair William & Co. IL bought a new position in Edison International in the second quarter worth $223,000. Benjamin F. Edwards & Company Inc. boosted its stake in Edison International by 9.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,038 shares of the utilities provider’s stock worth $793,000 after buying an additional 980 shares in the last quarter. Sei Investments Co. increased its holdings in Edison International by 8.2% in the 2nd quarter. Sei Investments Co. now owns 347,813 shares of the utilities provider’s stock valued at $24,976,000 after buying an additional 26,246 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Edison International by 1.5% in the 2nd quarter. ProShare Advisors LLC now owns 100,442 shares of the utilities provider’s stock valued at $7,213,000 after buying an additional 1,457 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Edison International Stock Down 6.6 %

Shares of NYSE:EIX opened at $58.12 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a market cap of $22.50 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.29 and a beta of 0.93. The company’s 50-day moving average price is $78.67 and its two-hundred day moving average price is $81.28. Edison International has a 12 month low of $55.27 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $1.38 earnings per share. As a group, research analysts forecast that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend is Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is currently 97.07%.

Analyst Ratings Changes

A number of research firms have recently commented on EIX. UBS Group reduced their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. Wells Fargo & Company upped their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley cut their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, Barclays decreased their price target on Edison International from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.58.

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.