Edison International (NYSE:EIX) Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lowered its position in shares of Edison International (NYSE:EIX) by 7.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,307 shares of the utilities provider’s stock after selling 700 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Edison International were worth $597,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of EIX. Teacher Retirement System of Texas raised its stake in Edison International by 118.8% during the fourth quarter. Teacher Retirement System of Texas now owns 133,472 shares of the utilities provider’s stock valued at $9,542,000 after buying an additional 72,460 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Edison International by 48.3% during the fourth quarter. BNP Paribas Financial Markets now owns 573,371 shares of the utilities provider’s stock valued at $40,990,000 after buying an additional 186,734 shares in the last quarter. Jump Financial LLC acquired a new stake in Edison International during the fourth quarter valued at approximately $1,215,000. Avantax Advisory Services Inc. raised its stake in Edison International by 73.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock valued at $1,509,000 after buying an additional 8,922 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Edison International by 4.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock valued at $376,166,000 after buying an additional 202,541 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now 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 ninety days, insiders sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on EIX. Guggenheim upped their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Mizuho upped their target price on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. Morgan Stanley upped their target price on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Finally, Evercore ISI upped their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Edison International currently has a consensus rating of “Hold” and a consensus price target of $82.36.

Edison International Stock Performance

Shares of NYSE EIX opened at $86.09 on Tuesday. The stock has a fifty day moving average price of $80.04 and a two-hundred day moving average price of $74.46. 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 firm has a market cap of $33.25 billion, a P/E ratio of 37.76 and a beta of 0.91. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $4.34 billion during 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 firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. Research analysts forecast that Edison International will post 4.96 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s payout ratio is currently 136.84%.

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.