iA Global Asset Management Inc. Has $326,000 Position in Edison International (NYSE:EIX)

iA Global Asset Management Inc. reduced its stake in Edison International (NYSE:EIX) by 56.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,607 shares of the utilities provider’s stock after selling 5,877 shares during the period. iA Global Asset Management Inc.’s holdings in Edison International were worth $326,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Able Wealth Management LLC acquired a new position in shares of Edison International in the fourth quarter valued at about $25,000. Global Trust Asset Management LLC acquired a new position in shares of Edison International in the first quarter valued at about $28,000. Northwest Financial Advisors acquired a new position in shares of Edison International in the fourth quarter valued at about $40,000. GAMMA Investing LLC acquired a new position in shares of Edison International in the fourth quarter valued at about $48,000. Finally, Mather Group LLC. acquired a new position in shares of Edison International in the first quarter valued at about $52,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,738 shares of company stock valued at $10,916,903. 1.03% of the stock is currently owned by company insiders.

Edison International Trading Down 0.5 %

NYSE EIX traded down $0.44 during trading hours on Friday, reaching $81.17. The company’s stock had a trading volume of 1,108,291 shares, compared to its average volume of 2,023,498. The firm has a fifty day simple moving average of $74.14 and a 200-day simple moving average of $71.09. The stock has a market cap of $31.35 billion, a P/E ratio of 35.79 and a beta of 0.91. Edison International has a 52 week low of $58.82 and a 52 week high of $82.96. 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 released its earnings results 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. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. Equities analysts forecast that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s dividend payout ratio is presently 136.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Guggenheim upped their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Argus upped 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. UBS Group cut shares of Edison International from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $83.00 to $82.00 in a research report on Friday, July 19th. The Goldman Sachs Group initiated coverage on shares of Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. Finally, Wells Fargo & Company increased their target price on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $78.27.

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.