Jackson Wealth Management LLC Buys 4,361 Shares of Edison International (NYSE:EIX)

Jackson Wealth Management LLC increased its holdings in Edison International (NYSE:EIX) by 29.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 19,234 shares of the utilities provider’s stock after buying an additional 4,361 shares during the quarter. Jackson Wealth Management LLC’s holdings in Edison International were worth $1,360,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EIX. Assenagon Asset Management S.A. increased its holdings in Edison International by 25.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 17,767 shares of the utilities provider’s stock worth $1,270,000 after buying an additional 3,565 shares in the last quarter. Blue Trust Inc. grew its stake 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 valued at $57,000 after purchasing an additional 332 shares during the period. Fifth Third Bancorp grew its stake in shares of Edison International by 11.1% during the 4th quarter. Fifth Third Bancorp now owns 11,480 shares of the utilities provider’s stock valued at $821,000 after purchasing an additional 1,151 shares during the period. Visionary Horizons LLC bought a new stake in shares of Edison International during the 4th quarter valued at about $593,000. Finally, Arizona State Retirement System grew its stake in shares of Edison International by 0.8% during the 4th quarter. Arizona State Retirement System now owns 105,343 shares of the utilities provider’s stock valued at $7,531,000 after purchasing an additional 858 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Edison International Trading Up 0.8 %

EIX stock traded up $0.66 during midday trading on Friday, reaching $82.27. The company’s stock had a trading volume of 2,263,934 shares, compared to its average volume of 1,912,519. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The stock has a fifty day simple moving average of $74.29 and a two-hundred day simple moving average of $71.18. Edison International has a 1 year low of $58.82 and a 1 year high of $83.05. The firm has a market capitalization of $31.77 billion, a price-to-earnings ratio of 36.08 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. On average, equities research analysts predict that Edison International will post 4.92 EPS for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.79%. Edison International’s dividend payout ratio is currently 136.84%.

Analyst Ratings Changes

A number of research firms have issued reports on EIX. Wells Fargo & Company boosted their price target on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group assumed coverage on Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective on the stock. Barclays lifted their price objective on Edison International from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday. Argus lifted their price objective on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Finally, UBS Group cut Edison International from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $83.00 to $82.00 in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Edison International presently has an average rating of “Hold” and an average price target of $78.27.

Insider Activity

In related news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction dated 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 owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Edison International news, SVP Caroline Choi sold 10,004 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the sale, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,738 shares of company stock worth $10,916,903. Company insiders own 1.03% of the company’s stock.

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.