Generali Asset Management SPA SGR Purchases Shares of 88,759 Edison International (NYSE:EIX)

Generali Asset Management SPA SGR bought a new position in shares of Edison International (NYSE:EIX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 88,759 shares of the utilities provider's stock, valued at approximately $7,087,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EIX. State Street Corp increased its position in Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider's stock worth $2,834,774,000 after buying an additional 224,337 shares during the last quarter. FMR LLC grew its stake in shares of Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider's stock worth $1,898,638,000 after acquiring an additional 1,741,835 shares during the period. Geode Capital Management LLC increased its holdings in Edison International by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider's stock worth $835,142,000 after acquiring an additional 210,461 shares during the last quarter. Amundi increased its holdings in Edison International by 0.3% in the 4th quarter. Amundi now owns 3,118,404 shares of the utilities provider's stock worth $248,973,000 after acquiring an additional 10,396 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Edison International by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider's stock valued at $209,191,000 after acquiring an additional 32,391 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of brokerages have weighed in on EIX. Wells Fargo & Company cut their target price on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Mizuho cut their target price on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and decreased their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Morgan Stanley raised their price objective on shares of Edison International from $48.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday. Finally, Barclays decreased their target price on shares of Edison International from $67.00 to $65.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $76.82.

Edison International Price Performance

Shares of Edison International stock traded down $0.60 during trading on Friday, hitting $58.32. 11,828,288 shares of the stock traded hands, compared to its average volume of 2,664,616. The stock has a market cap of $22.45 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.07 and a beta of 0.87. 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 has a 52 week low of $49.06 and a 52 week high of $88.77. The firm's fifty day moving average is $55.24 and its 200-day moving average is $73.51.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.03). The firm had revenue of $17.60 billion during the quarter, compared to analysts' expectations of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.68%. Edison International's dividend payout ratio (DPR) is currently 100.30%.

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.