Dai ichi Life Insurance Company Ltd Makes New $1.09 Million Investment in Edison International (NYSE:EIX)

Dai ichi Life Insurance Company Ltd acquired a new position in shares of Edison International (NYSE:EIX - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,480 shares of the utilities provider's stock, valued at approximately $1,087,000.

Several other hedge funds have also modified their holdings of the stock. Highline Wealth Partners LLC purchased a new stake in Edison International during the 3rd quarter worth about $26,000. Eastern Bank purchased a new stake in shares of Edison International during the third quarter worth approximately $27,000. Larson Financial Group LLC raised its holdings in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 195 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Edison International in the third quarter valued at approximately $32,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Edison International in the second quarter worth approximately $27,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EIX shares. Wells Fargo & Company raised their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Barclays lifted their price target on Edison International from $89.00 to $91.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Argus increased their price objective on Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Morgan Stanley cut their target price on Edison International from $74.00 to $72.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. Finally, Evercore ISI upped their price target on Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.75.

Edison International Stock Performance

NYSE:EIX traded up $0.62 during mid-day trading on Thursday, reaching $88.36. 1,589,281 shares of the stock were exchanged, compared to its average volume of 2,037,297. The company has a 50 day simple moving average of $84.84 and a 200-day simple moving average of $80.46. The stock has a market capitalization of $34.21 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.09 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 EPS. Analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.53%. Edison International's dividend payout ratio (DPR) is currently 91.50%.

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.