Aviva PLC Buys 337,628 Shares of Edison International (NYSE:EIX)

Aviva PLC lifted its stake in shares of Edison International (NYSE:EIX - Free Report) by 131.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 593,820 shares of the utilities provider's stock after acquiring an additional 337,628 shares during the quarter. Aviva PLC owned about 0.15% of Edison International worth $47,411,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Benjamin Edwards Inc. acquired a new position in Edison International during the third quarter valued at approximately $1,100,000. Hilltop Holdings Inc. boosted its holdings in shares of Edison International by 14.0% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,424 shares of the utilities provider's stock worth $385,000 after buying an additional 542 shares during the period. HighTower Advisors LLC grew its stake in Edison International by 2.9% in the 3rd quarter. HighTower Advisors LLC now owns 39,237 shares of the utilities provider's stock valued at $3,404,000 after buying an additional 1,111 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Edison International in the 3rd quarter worth $1,452,000. Finally, IHT Wealth Management LLC acquired a new position in Edison International during the 3rd quarter worth $245,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Price Performance

Shares of EIX stock traded up $0.24 during trading hours on Friday, hitting $55.64. The company had a trading volume of 543,096 shares, compared to its average volume of 2,915,161. 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 firm has a market capitalization of $21.42 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.07 and a beta of 0.74. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The firm's fifty day moving average is $54.77 and its 200 day moving average is $70.35.

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Edison International (NYSE:EIX - Get Free Report) last announced its earnings results 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). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. On average, sell-side analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's dividend payout ratio is currently 100.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EIX shares. Morgan Stanley raised their price target on Edison International from $48.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, March 20th. Wells Fargo & Company dropped their price target on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Mizuho reduced their price objective on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. LADENBURG THALM/SH SH raised shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group cut their target price on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.75.

Edison International Company 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.