Sumitomo Mitsui Trust Group Inc. Has $81.24 Million Stock Position in Edison International (NYSE:EIX)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Edison International (NYSE:EIX - Free Report) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 932,866 shares of the utilities provider's stock after purchasing an additional 8,586 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Edison International worth $81,243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. CreativeOne Wealth LLC acquired a new stake in shares of Edison International during the 1st quarter valued at about $230,000. Swedbank AB boosted its holdings in shares of Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider's stock worth $32,073,000 after acquiring an additional 193,307 shares in the last quarter. Intech Investment Management LLC grew its position in Edison International by 44.9% during the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider's stock worth $3,272,000 after acquiring an additional 14,346 shares during the last quarter. Janus Henderson Group PLC grew its position in Edison International by 150.6% during the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider's stock worth $12,004,000 after acquiring an additional 102,000 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in Edison International by 165.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,309 shares of the utilities provider's stock valued at $800,000 after purchasing an additional 7,050 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares of the company's stock, valued at $1,696,182.50. The trade was a 54.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,878 shares of company stock valued at $4,285,422. 1.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

EIX has been the subject of several research reports. Evercore ISI raised their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, August 14th. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They issued a "buy" rating and a $95.00 price objective for the company. Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They set a "buy" rating and a $93.00 target price for the company. Finally, UBS Group raised their price target on Edison International from $86.00 to $89.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Edison International presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.75.

Edison International Trading Up 1.9 %

NYSE:EIX traded up $1.54 during trading hours on Friday, hitting $83.67. The stock had a trading volume of 4,902,594 shares, compared to its average volume of 2,026,210. The business's 50 day moving average is $84.61 and its 200-day moving average is $79.51. 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 company has a market cap of $32.39 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 1.96 and a beta of 0.92. Edison International has a one year low of $63.15 and a one year high of $88.77.

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

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.73%. Edison International's dividend payout ratio is presently 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.