Edison International (NYSE:EIX) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in shares of Edison International (NYSE:EIX - Free Report) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 519,330 shares of the utilities provider's stock after acquiring an additional 29,554 shares during the quarter. Victory Capital Management Inc. owned about 0.13% of Edison International worth $45,228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lake Street Advisors Group LLC increased its position in shares of Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider's stock worth $263,000 after purchasing an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC increased its position in Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider's stock worth $416,000 after buying an additional 129 shares during the period. SFE Investment Counsel lifted its stake in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider's stock valued at $3,721,000 after buying an additional 130 shares during the last quarter. Equitable Trust Co. lifted its stake in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider's stock valued at $1,108,000 after buying an additional 132 shares during the last quarter. Finally, TIAA Trust National Association boosted its holdings in shares of Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider's stock valued at $483,000 after acquiring an additional 134 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EIX shares. Guggenheim upped their price target on shares of Edison International from $80.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Bank of America started coverage on shares of Edison International in a report on Thursday, September 12th. They issued a "buy" rating and a $95.00 target price for the company. Barclays raised 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. Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group initiated coverage on Edison International in a research report on Thursday, November 7th. They set a "buy" rating and a $93.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $88.75.

Edison International Price Performance

Shares of EIX traded up $1.55 during trading hours on Friday, reaching $83.68. The company had a trading volume of 4,902,595 shares, compared to its average volume of 2,026,210. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The firm has a 50 day simple moving average of $84.55 and a 200-day simple moving average of $79.60. The company has a market capitalization of $32.40 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.96 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.13. The company 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 quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share. Research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently disclosed 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 3.73%. Edison International's dividend payout ratio is presently 91.50%.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the firm's 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 completion of the transaction, the chief executive officer now owns 19,850 shares of the company's stock, valued at approximately $1,696,182.50. This trade represents a 54.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the business's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,878 shares of company stock valued at $4,285,422. Insiders own 1.03% of the company's stock.

Edison International 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.