Aigen Investment Management LP Raises Holdings in Edison International (NYSE:EIX)

Aigen Investment Management LP lifted its holdings in shares of Edison International (NYSE:EIX - Free Report) by 46.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,086 shares of the utilities provider's stock after purchasing an additional 6,733 shares during the quarter. Aigen Investment Management LP's holdings in Edison International were worth $1,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP boosted its stake in Edison International by 88.3% in the first quarter. Quantbot Technologies LP now owns 11,909 shares of the utilities provider's stock worth $842,000 after buying an additional 5,583 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Edison International by 29.8% in the first quarter. Empowered Funds LLC now owns 5,158 shares of the utilities provider's stock worth $365,000 after acquiring an additional 1,185 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Edison International by 3.1% in the first quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the utilities provider's stock worth $393,000 after acquiring an additional 169 shares during the last quarter. Atomi Financial Group Inc. boosted its position in shares of Edison International by 14.9% during the first quarter. Atomi Financial Group Inc. now owns 3,523 shares of the utilities provider's stock valued at $249,000 after buying an additional 458 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Edison International by 14.5% during the first quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider's stock valued at $22,744,000 after buying an additional 40,646 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Insider Activity

In other news, CEO J Andrew Murphy sold 23,896 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value 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 $1,696,182.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO J Andrew Murphy sold 23,896 shares of the company's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of the company's stock in a transaction dated 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. Insiders sold a total of 50,878 shares of company stock valued at $4,285,422 in the last quarter. 1.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Evercore ISI increased their price objective on Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, August 14th. Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Argus increased their target price on Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Royal Bank of Canada raised their price target on Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Finally, Barclays lifted their target price on Edison International from $89.00 to $91.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.75.

Edison International Stock Performance

Edison International stock traded down $0.82 during trading hours on Tuesday, hitting $82.76. 1,969,921 shares of the stock traded hands, compared to its average volume of 2,014,408. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm's 50 day moving average price is $84.92 and its 200-day moving average price is $79.39. The stock has a market capitalization of $32.04 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.93 and a beta of 0.92. Edison International has a 1 year low of $62.21 and a 1 year high of $88.77.

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 for the quarter, beating the consensus estimate of $1.38 by $0.13. The business 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 company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 EPS. As a group, equities analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued 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 3.77%. Edison International's dividend payout ratio (DPR) is presently 91.50%.

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.