AMF Tjanstepension AB Boosts Stock Holdings in Edison International (NYSE:EIX)

AMF Tjanstepension AB lifted its holdings in shares of Edison International (NYSE:EIX - Free Report) by 69.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 162,753 shares of the utilities provider's stock after purchasing an additional 66,629 shares during the period. AMF Tjanstepension AB's holdings in Edison International were worth $11,542,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Able Wealth Management LLC bought a new stake in shares of Edison International during the fourth quarter worth $25,000. Bruce G. Allen Investments LLC bought a new position in Edison International in the fourth quarter valued at about $27,000. Global Trust Asset Management LLC bought a new position in Edison International in the first quarter valued at about $28,000. WASHINGTON TRUST Co boosted its holdings in Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors bought a new position in Edison International in the fourth quarter valued at about $40,000. Institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

EIX has been the topic of several recent research reports. Argus raised their price target on Edison International from $78.00 to $82.00 and gave the company a "buy" rating in a report on Wednesday, June 12th. Wells Fargo & Company raised Edison International from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $72.00 to $86.00 in a research note on Tuesday, May 14th. Barclays increased their target price on Edison International from $72.00 to $75.00 and gave the company an "equal weight" rating in a research note on Thursday, May 2nd. Royal Bank of Canada cut their target price on Edison International from $81.00 to $80.00 and set an "outperform" rating on the stock in a research note on Thursday, March 7th. Finally, Morgan Stanley dropped their price target on Edison International from $64.00 to $61.00 and set an "underweight" rating on the stock in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Edison International currently has a consensus rating of "Hold" and a consensus target price of $77.40.

Edison International Stock Down 0.3 %

Edison International stock traded down $0.23 during midday trading on Friday, reaching $71.81. The stock had a trading volume of 2,647,118 shares, compared to its average volume of 1,742,993. The firm's fifty day simple moving average is $73.45 and its 200-day simple moving average is $70.47. Edison International has a 1-year low of $58.82 and a 1-year high of $77.04. The stock has a market capitalization of $27.63 billion, a P/E ratio of 31.50 and a beta of 0.95. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the firm earned $1.09 EPS. Edison International's revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts expect that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 4.34%. Edison International's dividend payout ratio is currently 136.84%.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 58,099 shares of Edison International stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,474,696.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO J Andrew Murphy sold 58,099 shares of Edison International stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company's stock, valued at approximately $1,474,696.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares of the company's stock, valued at $2,039,576.86. The disclosure for this sale can be found here. In the last three months, insiders sold 77,897 shares of company stock worth $5,851,245. 1.03% of the stock is owned by company insiders.

About Edison International

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.