Edison International (NYSE:EIX) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc decreased its position in shares of Edison International (NYSE:EIX - Free Report) by 17.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,483 shares of the utilities provider's stock after selling 21,332 shares during the quarter. Impax Asset Management Group plc's holdings in Edison International were worth $8,751,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. ING Groep NV acquired a new stake in shares of Edison International in the third quarter worth $4,715,000. Metis Global Partners LLC boosted its holdings in Edison International by 11.5% in the third quarter. Metis Global Partners LLC now owns 88,008 shares of the utilities provider's stock valued at $7,665,000 after purchasing an additional 9,108 shares during the last quarter. KBC Group NV raised its stake in shares of Edison International by 93.3% during the 3rd quarter. KBC Group NV now owns 49,578 shares of the utilities provider's stock valued at $4,318,000 after buying an additional 23,935 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Edison International by 30.8% in the 3rd quarter. Huntington National Bank now owns 5,013 shares of the utilities provider's stock valued at $437,000 after buying an additional 1,179 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Edison International by 3.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,892 shares of the utilities provider's stock valued at $949,000 after buying an additional 407 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Andrew Murphy sold 1,362 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,878 shares of company stock valued at $4,285,422 in the last three months. 1.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

EIX has been the subject of a number of analyst reports. Barclays boosted their price target on Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Bank of America initiated coverage on shares of Edison International in a research report on Thursday, September 12th. They set a "buy" rating and a $95.00 price target on the stock. Evercore ISI upped their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th. Morgan Stanley raised their target price on Edison International from $68.00 to $72.00 and gave the company an "underweight" rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group started coverage on Edison International in a report on Thursday, November 7th. They issued a "buy" rating and a $93.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Edison International has a consensus rating of "Moderate Buy" and a consensus target price of $88.75.

Edison International Price Performance

EIX traded up $1.55 on Friday, hitting $83.68. 4,902,595 shares of the company's stock were exchanged, compared to its average volume of 2,026,210. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The stock has a market cap of $32.40 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 1.96 and a beta of 0.92. The firm has a 50-day moving average price of $84.55 and a 200-day moving average price of $79.60. 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 (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.01 billion. During the same quarter in the prior year, the company earned $1.38 EPS. Edison International's revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

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