Edison International (NYSE:EIX) Shares Sold by M&G Plc

M&G PLC lessened its position in Edison International (NYSE:EIX - Free Report) by 10.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 929,743 shares of the utilities provider's stock after selling 112,483 shares during the quarter. M&G PLC owned 0.24% of Edison International worth $80,888,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CreativeOne Wealth LLC purchased a new position in shares of Edison International during the first quarter valued at approximately $230,000. Swedbank AB grew its position in Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider's stock valued at $32,073,000 after acquiring an additional 193,307 shares during the last quarter. Intech Investment Management LLC increased its stake in Edison International by 44.9% in the first quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider's stock worth $3,272,000 after purchasing an additional 14,346 shares during the period. Sei Investments Co. lifted 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 worth $22,744,000 after purchasing an additional 40,646 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Edison International by 150.6% during the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider's stock valued at $12,004,000 after purchasing an additional 102,000 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Up 0.3 %

NYSE:EIX traded up $0.28 during midday trading on Thursday, reaching $81.45. 2,577,909 shares of the stock traded hands, compared to its average volume of 2,013,467. The business has a 50-day moving average of $85.17 and a two-hundred day moving average of $79.08. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 12-month low of $62.21 and a 12-month high of $88.77. The stock has a market capitalization of $31.53 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.01 billion. During the same quarter last year, the firm earned $1.38 EPS. The business's quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.83%. Edison International's dividend payout ratio is currently 91.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Argus lifted their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, August 14th. Barclays increased their price objective on Edison International from $89.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group assumed coverage on Edison International in a report on Thursday. They issued a "buy" rating and a $93.00 target price for the company. One 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.75.

Insider Buying and Selling at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Adam S. Umanoff sold 25,619 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,878 shares of company stock worth $4,285,422. 1.20% of the stock is currently owned by insiders.

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.