Swedbank AB Boosts Holdings in Edison International (NYSE:EIX)

Swedbank AB boosted its position in shares of Edison International (NYSE:EIX) by 13.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 506,819 shares of the utilities provider’s stock after acquiring an additional 60,182 shares during the period. Swedbank AB’s holdings in Edison International were worth $44,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new position in Edison International during the 2nd quarter valued at approximately $27,000. Global Trust Asset Management LLC acquired a new position in Edison International during the 1st quarter valued at approximately $28,000. Country Trust Bank acquired a new position in Edison International during the 2nd quarter valued at approximately $29,000. Farmers & Merchants Investments Inc. increased its stake in Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in Edison International during the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EIX shares. Evercore ISI upped their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Wells Fargo & Company increased their price objective on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Bank of America assumed coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Edison International currently has a consensus rating of “Hold” and an average target price of $86.50.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,687,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,687,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,099 shares of company stock worth $7,223,342. 1.03% of the stock is currently owned by insiders.

Edison International Price Performance

Shares of EIX stock opened at $85.07 on Wednesday. Edison International has a 12 month low of $61.64 and a 12 month high of $88.77. The company has a market capitalization of $32.73 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 1.92 and a beta of 0.91. The firm’s 50-day moving average is $85.09 and its two-hundred day moving average is $77.52. 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 announced its quarterly 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 analysts’ expectations of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business earned $1.01 earnings per share. Analysts predict that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.67%. Edison International’s dividend payout ratio is presently 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.