Citigroup Inc. Sells 24,401 Shares of Edison International (NYSE:EIX)

Citigroup Inc. reduced its stake in Edison International (NYSE:EIX - Free Report) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 496,604 shares of the utilities provider's stock after selling 24,401 shares during the period. Citigroup Inc. owned approximately 0.13% of Edison International worth $43,249,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. abrdn plc grew its position in Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider's stock worth $123,149,000 after buying an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Edison International by 117.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider's stock valued at $68,081,000 after acquiring an additional 422,752 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Edison International by 595.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider's stock worth $22,884,000 after purchasing an additional 272,876 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Edison International in the second quarter worth approximately $18,484,000. Finally, Swedbank AB purchased a new stake in Edison International in the first quarter valued at approximately $17,918,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business's 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 document filed with the SEC, which is available at this hyperlink. Insiders own 1.03% of the company's stock.

Edison International Trading Up 1.3 %

NYSE:EIX traded up $1.13 during mid-day trading on Monday, reaching $87.61. 3,432,904 shares of the company's stock traded hands, compared to its average volume of 2,039,192. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. 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 company has a 50 day moving average price of $84.64 and a 200-day moving average price of $80.17. The firm has a market capitalization of $33.92 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 2.07 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 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 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 revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 earnings per share. On average, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 yield of 3.56%. Edison International's dividend payout ratio (DPR) is presently 91.50%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a "buy" rating and a $93.00 price target on the stock. Morgan Stanley cut their price objective on Edison International from $74.00 to $72.00 and set an "underweight" rating for the company in a report on Friday. Barclays raised their price objective on Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Finally, Argus upped their target price on Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.75.

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.