Semmax Financial Advisors Inc. Trims Holdings in Edison International (NYSE:EIX)

Semmax Financial Advisors Inc. cut its position in shares of Edison International (NYSE:EIX) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,283 shares of the utilities provider’s stock after selling 1,974 shares during the quarter. Edison International makes up 1.3% of Semmax Financial Advisors Inc.’s investment portfolio, making the stock its 24th largest position. Semmax Financial Advisors Inc.’s holdings in Edison International were worth $4,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Corient Private Wealth LLC boosted its holdings in shares of Edison International by 0.3% during the fourth quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock worth $4,379,000 after purchasing an additional 175 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Edison International in the 4th quarter valued at about $433,000. US Bancorp DE increased its stake in shares of Edison International by 7.3% during the 4th quarter. US Bancorp DE now owns 70,061 shares of the utilities provider’s stock valued at $5,009,000 after acquiring an additional 4,740 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Edison International during the 4th quarter worth about $193,000. Finally, Hsbc Holdings PLC boosted its position in shares of Edison International by 39.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,719,916 shares of the utilities provider’s stock worth $122,914,000 after acquiring an additional 486,808 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock valued at $7,223,342 in the last quarter. Corporate insiders own 1.03% of the company’s stock.

Edison International Price Performance

EIX opened at $86.08 on Tuesday. 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 company’s 50-day moving average price is $82.58 and its 200 day moving average price is $75.70. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $88.77. The firm has a market cap of $33.12 billion, a price-to-earnings ratio of 37.75, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping 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 business 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 business posted $1.01 EPS. The business’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.62%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio is currently 136.84%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EIX shares. UBS Group boosted their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Morgan Stanley upped their target price on Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $94.00 target price on shares of Edison International in a report on Monday, September 16th. Argus upped their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Barclays lifted their price objective on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.83.

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.