Stonegate Investment Group LLC Cuts Stock Holdings in Edison International (NYSE:EIX)

Stonegate Investment Group LLC lowered its stake in Edison International (NYSE:EIX) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,686 shares of the utilities provider’s stock after selling 288 shares during the quarter. Stonegate Investment Group LLC’s holdings in Edison International were worth $321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EIX. Nomura Holdings Inc. bought a new position in Edison International during the fourth quarter valued at approximately $552,000. CWM LLC grew its holdings in shares of Edison International by 34.5% in the first quarter. CWM LLC now owns 9,820 shares of the utilities provider’s stock valued at $695,000 after purchasing an additional 2,518 shares in the last quarter. GAMMA Investing LLC increased its position in Edison International by 43.9% in the first quarter. GAMMA Investing LLC now owns 1,026 shares of the utilities provider’s stock worth $73,000 after purchasing an additional 313 shares during the last quarter. Mather Group LLC. purchased a new stake in Edison International during the first quarter valued at $52,000. Finally, Czech National Bank lifted its position in Edison International by 0.5% during the first quarter. Czech National Bank now owns 67,489 shares of the utilities provider’s stock valued at $4,773,000 after purchasing an additional 359 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were 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 $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock worth $7,223,342 over the last quarter. Insiders own 1.20% of the company’s stock.

Edison International Stock Performance

Edison International stock opened at $85.43 on Friday. Edison International has a fifty-two week low of $61.64 and a fifty-two week high of $88.77. The company has a market capitalization of $32.99 billion, a PE ratio of 34.31, a P/E/G ratio of 1.95 and a beta of 0.91. The company has a 50 day moving average price of $85.31 and a 200-day moving average price of $77.73. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03.

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. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts forecast 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. Investors of record on Monday, October 7th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s payout ratio is currently 125.30%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group increased their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Guggenheim raised 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. Barclays cut their target price on Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Argus increased their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Morgan Stanley lifted 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, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.55.

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.