Edison International (NYSE:EIX) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its holdings in shares of Edison International (NYSE:EIX) by 16.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,127 shares of the utilities provider’s stock after selling 10,820 shares during the quarter. Truist Financial Corp’s holdings in Edison International were worth $3,887,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. CreativeOne Wealth LLC acquired a new stake in Edison International in the 1st quarter valued at $230,000. Swedbank AB grew its stake in shares of Edison International by 76.3% in the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after buying an additional 193,307 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Edison International by 3,503.3% during the 1st quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock valued at $9,573,000 after buying an additional 131,585 shares during the period. Intech Investment Management LLC lifted its position in Edison International by 44.9% during the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after acquiring an additional 14,346 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Edison International by 14.5% in the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock worth $22,744,000 after acquiring an additional 40,646 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the firm’s 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 sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,541,933.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated 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 directly owns 6,338 shares of the company’s stock, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock worth $7,223,342 in the last three months. 1.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EIX. Guggenheim lifted their price objective on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays lifted their price target on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Wells Fargo & Company upped their price objective on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Finally, Royal Bank of Canada raised their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One 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’s stock. Based on data from MarketBeat.com, Edison International presently has an average rating of “Hold” and an average target price of $86.67.

Edison International Stock Performance

Shares of EIX opened at $84.89 on Wednesday. The stock has a market capitalization of $32.66 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 2.02 and a beta of 0.91. Edison International has a 12-month low of $61.48 and a 12-month high of $88.77. The business’s fifty day moving average price is $84.69 and its 200 day moving average price is $76.90. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts forecast that Edison International will post 4.97 EPS for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.68%. Edison International’s dividend payout ratio is currently 136.84%.

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.