Edison International (NYSE:EIX) Shares Sold by MML Investors Services LLC

MML Investors Services LLC reduced its holdings in shares of Edison International (NYSE:EIX) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,834 shares of the utilities provider’s stock after selling 250 shares during the quarter. MML Investors Services LLC’s holdings in Edison International were worth $4,863,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Zacks Investment Management acquired a new stake in Edison International in the 3rd quarter valued at $4,673,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of Edison International in the third quarter valued at about $18,107,000. National Bank of Canada FI grew its stake in shares of Edison International by 67.5% in the third quarter. National Bank of Canada FI now owns 226,971 shares of the utilities provider’s stock valued at $19,767,000 after buying an additional 91,489 shares in the last quarter. iA Global Asset Management Inc. raised its holdings in shares of Edison International by 4.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 11,467 shares of the utilities provider’s stock valued at $999,000 after buying an additional 463 shares during the period. Finally, EP Wealth Advisors LLC lifted its position in Edison International by 77.1% during the 3rd quarter. EP Wealth Advisors LLC now owns 19,220 shares of the utilities provider’s stock worth $1,674,000 after acquiring an additional 8,369 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EIX has been the topic of a number of analyst reports. Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. Morgan Stanley dropped their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Bank of America started coverage on shares of Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. Wells Fargo & Company lifted their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Barclays increased their price target on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Price Performance

Shares of EIX opened at $81.89 on Friday. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. 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 firm has a market cap of $31.70 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.95 and a beta of 0.92. The stock has a 50 day moving average of $84.27 and a 200-day moving average of $81.11.

Edison International (NYSE:EIX) last released 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 the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 earnings per share. As a group, analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date 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 91.50%.

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.