American International Group Inc. Sells 199 Shares of Edison International (NYSE:EIX)

American International Group Inc. lessened its stake in shares of Edison International (NYSE:EIX) by 0.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 100,266 shares of the utilities provider’s stock after selling 199 shares during the period. American International Group Inc.’s holdings in Edison International were worth $7,092,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC bought a new stake in Edison International during the fourth quarter valued at $53,000. Assenagon Asset Management S.A. boosted its position in Edison International by 25.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 17,767 shares of the utilities provider’s stock valued at $1,270,000 after acquiring an additional 3,565 shares during the last quarter. Courier Capital LLC bought a new position in shares of Edison International during the 4th quarter worth about $214,000. WASHINGTON TRUST Co boosted its position in shares of Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Edison International by 70.9% during the 4th quarter. Blue Trust Inc. now owns 800 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 332 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on EIX. Morgan Stanley cut their price objective on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. The Goldman Sachs Group began coverage on shares of Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective on the stock. Wells Fargo & Company raised shares of Edison International from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $86.00 in a research report on Tuesday, May 14th. Mizuho increased their price objective on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Argus increased their price objective on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $77.82.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 58,099 shares of Edison International stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The disclosure for this sale can be found here. Insiders sold a total of 77,897 shares of company stock valued at $5,851,245 in the last three months. Company insiders own 1.03% of the company’s stock.

Edison International Stock Up 0.5 %

Edison International stock opened at $76.43 on Friday. Edison International has a 1-year low of $58.82 and a 1-year high of $77.59. The firm has a market capitalization of $29.41 billion, a price-to-earnings ratio of 33.52 and a beta of 0.91. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. The firm has a 50 day simple moving average of $73.77 and a 200 day simple moving average of $70.84.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period in the previous year, the business earned $1.09 EPS. Edison International’s revenue was up 2.8% compared to the same quarter last year. On average, analysts predict that Edison International will post 4.92 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.08%. The ex-dividend date is Monday, July 8th. Edison International’s payout ratio is 136.84%.

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.