Allianz SE Takes $829,000 Position in Edison International (NYSE:EIX)

Allianz SE bought a new stake in 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 institutional investor bought 10,400 shares of the utilities provider's stock, valued at approximately $829,000.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Edison International in the 4th quarter valued at approximately $323,443,000. Vanguard Group Inc. grew its holdings in shares of Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Edison International in the 4th quarter valued at $39,344,000. AustralianSuper Pty Ltd bought a new position in Edison International during the fourth quarter worth about $31,877,000. Finally, Victory Capital Management Inc. lifted its position in shares of Edison International by 74.6% during the 4th quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider's stock worth $72,379,000 after buying an additional 387,215 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EIX shares. Mizuho lowered their price target on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Guggenheim cut Edison International from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. The Goldman Sachs Group cut their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. LADENBURG THALM/SH SH upgraded 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. Finally, Morgan Stanley upped their price objective on shares of Edison International from $48.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $76.82.

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Edison International Stock Down 2.1 %

Shares of Edison International stock traded down $1.26 during trading hours on Thursday, reaching $58.66. 1,051,920 shares of the company's stock were exchanged, compared to its average volume of 2,859,847. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The stock has a market cap of $22.59 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.07 and a beta of 0.87. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a 50 day moving average of $54.89 and a two-hundred day moving average of $71.97.

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

Edison International Dividend Announcement

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 5.64%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's dividend payout ratio (DPR) is presently 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.