Edison International (NYSE:EIX) Shares Sold by AIA Group Ltd

AIA Group Ltd decreased its position in Edison International (NYSE:EIX) by 19.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,795 shares of the utilities provider’s stock after selling 5,630 shares during the quarter. AIA Group Ltd’s holdings in Edison International were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. M&G Plc acquired a new position in shares of Edison International in the first quarter valued at approximately $85,436,000. abrdn plc lifted its stake in shares of Edison International by 166.4% during the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after purchasing an additional 885,955 shares during the period. Capital International Investors lifted its stake in shares of Edison International by 6.4% during the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after purchasing an additional 795,950 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Edison International by 117.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after purchasing an additional 422,752 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

Edison International stock opened at $83.13 on Friday. Edison International has a 12-month low of $62.21 and a 12-month high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market capitalization of $32.18 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92. The firm’s fifty day moving average price is $84.99 and its 200 day moving average price is $79.18.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. On average, research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

Analyst Ratings Changes

EIX has been the topic of several recent analyst reports. Argus increased their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Morgan Stanley upped their price target on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. UBS Group lifted their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Evercore ISI upped their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

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 shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 50,878 shares of company stock worth $4,285,422. Insiders own 1.03% of the company’s stock.

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.