Resona Asset Management Co. Ltd. Invests $9.35 Million in Edison International (NYSE:EIX)

Resona Asset Management Co. Ltd. bought a new stake in shares of Edison International (NYSE:EIX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 117,163 shares of the utilities provider's stock, valued at approximately $9,353,000.

Several other institutional investors and hedge funds have also bought and sold shares of EIX. Jamison Private Wealth Management Inc. increased its stake in Edison International by 2.6% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider's stock valued at $550,000 after purchasing an additional 174 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Edison International by 2.9% in the 4th quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider's stock valued at $503,000 after buying an additional 176 shares during the period. Old Port Advisors increased its position in Edison International by 0.9% in the 4th quarter. Old Port Advisors now owns 19,292 shares of the utilities provider's stock valued at $1,540,000 after buying an additional 180 shares in the last quarter. Centre Asset Management LLC increased its position in Edison International by 8.1% in the 4th quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider's stock valued at $212,000 after buying an additional 199 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its stake in Edison International by 88.1% during the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider's stock worth $34,000 after buying an additional 200 shares during the period. 88.95% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and reduced their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Morgan Stanley upped their price objective on shares of Edison International from $48.00 to $52.00 and gave the stock an "underweight" rating in a report on Thursday, March 20th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Finally, LADENBURG THALM/SH SH raised shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 target price for the company in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $76.75.

Edison International Stock Up 1.3 %

NYSE:EIX traded up $0.72 on Friday, hitting $56.12. The stock had a trading volume of 2,085,321 shares, compared to its average volume of 2,933,206. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The firm's fifty day simple moving average is $54.86 and its two-hundred day simple moving average is $70.04. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a market cap of $21.61 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion for the quarter, compared to analysts' expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's payout ratio is 100.30%.

About Edison International

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.