International Assets Investment Management LLC Buys New Holdings in Edison International (NYSE:EIX)

International Assets Investment Management LLC acquired a new stake in shares of Edison International (NYSE:EIX - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 101,951 shares of the utilities provider's stock, valued at approximately $8,879,000.

Several other institutional investors have also bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in Edison International during the second quarter worth $27,000. Eastern Bank purchased a new position in Edison International during the third quarter worth $27,000. Country Trust Bank purchased a new position in Edison International during the second quarter worth $29,000. Farmers & Merchants Investments Inc. boosted its stake in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider's stock worth $29,000 after buying an additional 140 shares during the period. Finally, OFI Invest Asset Management purchased a new position in Edison International during the second quarter worth $32,000. Institutional investors own 88.95% of the company's stock.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 1,362 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,687,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.03% of the stock is currently owned by corporate insiders.

Edison International Stock Down 1.0 %

Shares of EIX stock traded down $0.82 on Thursday, hitting $82.42. The stock had a trading volume of 3,176,352 shares, compared to its average volume of 1,999,104. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The business has a 50 day moving average price of $85.47 and a 200 day moving average price of $78.64. The company has a market cap of $31.83 billion, a PE ratio of 24.17, a P/E/G ratio of 1.94 and a beta of 0.91. Edison International has a one year low of $62.21 and a one year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.12. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm's revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share. Research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be issued 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 3.79%. Edison International's dividend payout ratio is presently 91.50%.

Analyst Ratings Changes

Several research firms have commented on EIX. Argus lifted their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Wells Fargo & Company boosted their target price on shares of Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday. Royal Bank of Canada boosted their target price on shares of Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Morgan Stanley boosted their target price on shares of Edison International from $68.00 to $72.00 and gave the company an "underweight" rating in a research note on Wednesday, September 25th. Finally, Evercore ISI boosted their target price 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $88.36.

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.