Edison International (NYSE:EIX) Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Edison International (NYSE:EIX) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,389 shares of the utilities provider’s stock after acquiring an additional 724 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Edison International were worth $909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after purchasing an additional 224,337 shares during the period. FMR LLC lifted its stake in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after acquiring an additional 1,741,835 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Edison International by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after acquiring an additional 210,461 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Edison International by 0.5% during the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after acquiring an additional 24,834 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after purchasing an additional 28,240 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.03% of the company’s stock.

Edison International Price Performance

EIX stock opened at $56.02 on Wednesday. The stock’s 50 day moving average price is $76.66 and its 200 day moving average price is $80.87. The firm has a market cap of $21.69 billion, a P/E ratio of 16.43, a PEG ratio of 1.20 and a beta of 0.93. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 1 year low of $55.27 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings data 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 return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the company earned $1.38 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts expect that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a report on Wednesday, January 15th. Barclays reduced their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Morgan Stanley lowered 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. Finally, 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 research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.88.

Edison International 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.