Edison International (NYSE:EIX) Shares Acquired by Swedbank AB

Swedbank AB increased its position in shares of Edison International (NYSE:EIX - Free Report) by 13.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 506,819 shares of the utilities provider's stock after purchasing an additional 60,182 shares during the period. Swedbank AB owned 0.13% of Edison International worth $44,139,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CreativeOne Wealth LLC acquired a new position in shares of Edison International during the first quarter worth $230,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Edison International during the third quarter worth $1,387,000. Janus Henderson Group PLC grew its stake in shares of Edison International by 150.6% during the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider's stock worth $12,004,000 after purchasing an additional 102,000 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Edison International by 955.8% during the first quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider's stock worth $7,413,000 after purchasing an additional 94,878 shares in the last quarter. Finally, Baker Avenue Asset Management LP acquired a new position in Edison International in the third quarter valued at $2,291,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Insider Buying and Selling

In other Edison International 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 value of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.03% of the stock is currently owned by corporate insiders.

Edison International Stock Performance

NYSE EIX traded up $1.11 during trading hours on Monday, hitting $87.60. 3,433,943 shares of the stock were exchanged, compared to its average volume of 2,039,197. The company has a market cap of $33.91 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 2.07 and a beta of 0.92. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The stock has a 50-day moving average of $84.66 and a 200 day moving average of $80.26. 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 (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 earnings per share. As a group, equities research analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.56%. Edison International's dividend payout ratio is currently 91.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EIX shares. Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a "buy" rating and a $95.00 price objective for the company. Argus upped their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. UBS Group upped their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a "neutral" rating in a research note on Wednesday, September 4th. Morgan Stanley decreased their price objective on shares of Edison International from $74.00 to $72.00 and set an "underweight" rating for the company in a research note on Friday. Finally, Evercore ISI upped their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Edison International presently has an average rating of "Moderate Buy" and a consensus price target of $88.75.

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.