Swedbank AB Raises Holdings in Edison International (NYSE:EIX)

Swedbank AB grew its stake in Edison International (NYSE:EIX - Free Report) by 13.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 506,819 shares of the utilities provider's stock after purchasing an additional 60,182 shares during the quarter. Swedbank AB owned approximately 0.13% of Edison International worth $44,139,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. HighPoint Advisor Group LLC bought a new stake in Edison International during the fourth quarter worth $597,000. Nomura Holdings Inc. bought a new stake in Edison International during the fourth quarter worth $552,000. CWM LLC lifted its holdings in Edison International by 34.5% during the first quarter. CWM LLC now owns 9,820 shares of the utilities provider's stock worth $695,000 after acquiring an additional 2,518 shares during the period. GAMMA Investing LLC lifted its holdings in Edison International by 43.9% during the first quarter. GAMMA Investing LLC now owns 1,026 shares of the utilities provider's stock worth $73,000 after acquiring an additional 313 shares during the period. Finally, Mather Group LLC. bought a new stake in Edison International during the first quarter worth $52,000. Institutional investors own 88.95% of the company's stock.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the company's stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,541,933.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Natalie K. Schilling sold 2,341 shares of the company's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Andrew Murphy sold 28,995 shares of the company's stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company's stock, valued at $1,541,933.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock worth $7,223,342 in the last ninety days. 1.03% of the stock is currently owned by insiders.

Edison International Stock Performance

Shares of NYSE EIX traded up $0.90 during mid-day trading on Wednesday, hitting $85.97. The company had a trading volume of 1,762,199 shares, compared to its average volume of 1,996,370. The company has a market capitalization of $33.08 billion, a price-to-earnings ratio of 37.31, a P/E/G ratio of 1.92 and a beta of 0.91. Edison International has a 1 year low of $61.64 and a 1 year high of $88.77. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The stock's 50-day moving average price is $85.09 and its 200-day moving average price is $77.52.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. On average, sell-side analysts forecast that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be paid a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.63%. Edison International's dividend payout ratio is currently 136.84%.

Analysts Set New Price Targets

A number of brokerages recently commented on EIX. Wells Fargo & Company lifted their price target on Edison International from $86.00 to $87.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Evercore ISI raised their target price on Edison International from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th. Argus raised their target price on Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Barclays decreased their target price on Edison International from $91.00 to $89.00 and set an "equal weight" rating for the company in a research report on Tuesday. Finally, UBS Group raised their target price on Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Edison International presently has an average rating of "Hold" and a consensus target price of $86.50.

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.