AIA Group Ltd lowered its stake in shares of Edison International (NYSE:EIX - Free Report) by 39.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,736 shares of the utilities provider's stock after selling 9,059 shares during the period. AIA Group Ltd's holdings in Edison International were worth $1,097,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. lifted its stake in Edison International by 2.6% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider's stock valued at $550,000 after acquiring an additional 174 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Edison International by 2.9% during the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider's stock worth $503,000 after purchasing an additional 176 shares during the last quarter. Old Port Advisors grew 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 worth $1,540,000 after purchasing an additional 180 shares in the last quarter. Centre Asset Management LLC lifted its position in shares of Edison International by 8.1% during the 4th quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider's stock worth $212,000 after buying an additional 199 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted its stake in shares of Edison International by 88.1% in 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 last quarter. 88.95% of the stock is owned by institutional investors.
Edison International Trading Up 2.0 %
Shares of EIX traded up $1.17 during trading hours on Wednesday, hitting $59.92. The company had a trading volume of 3,601,704 shares, compared to its average volume of 2,866,668. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock's 50 day moving average price is $54.89 and its 200 day moving average price is $71.97. The firm has a market cap of $23.07 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.07 and a beta of 0.87.
Edison International (NYSE:EIX - Get Free Report) last announced 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 company had revenue of $17.60 billion during the quarter, compared to analysts' expectations of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. On average, research analysts predict that Edison International will post 4.95 EPS for the current year.
Edison International Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date is Monday, April 7th. Edison International's payout ratio is 100.30%.
Analysts Set New Price Targets
EIX has been the subject of a number of research analyst reports. Guggenheim downgraded shares of Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price objective on the stock in a research report on Wednesday, January 15th. Barclays lowered their price target on Edison International from $67.00 to $65.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company dropped their target price on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Finally, The Goldman Sachs Group lowered their price objective on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $76.82.
Get Our Latest Analysis on EIX
Edison International Profile
(
Free Report)
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.
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