Assenagon Asset Management S.A. Cuts Holdings in Edison International (NYSE:EIX)

Assenagon Asset Management S.A. cut its stake in shares of Edison International (NYSE:EIX - Free Report) by 93.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,652 shares of the utilities provider's stock after selling 197,695 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Edison International were worth $1,189,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in Edison International by 12.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,508 shares of the utilities provider's stock valued at $1,592,000 after buying an additional 2,431 shares during the period. Norden Group LLC purchased a new position in Edison International during the first quarter valued at approximately $369,000. First Trust Direct Indexing L.P. increased its holdings in Edison International by 15.1% during the first quarter. First Trust Direct Indexing L.P. now owns 8,248 shares of the utilities provider's stock valued at $583,000 after buying an additional 1,084 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Edison International by 19.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,868 shares of the utilities provider's stock valued at $5,206,000 after buying an additional 11,967 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Edison International by 1.9% during the first quarter. BNP Paribas Financial Markets now owns 584,028 shares of the utilities provider's stock valued at $41,308,000 after buying an additional 10,657 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, 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 at this hyperlink. 1.03% of the stock is currently owned by insiders.

Edison International Stock Performance

Shares of NYSE:EIX traded down $1.27 on Friday, hitting $81.13. 2,142,564 shares of the company were exchanged, compared to its average volume of 1,895,950. Edison International has a 1-year low of $62.21 and a 1-year high of $88.77. The stock's 50 day moving average price is $85.39 and its 200 day moving average price is $78.89. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $31.41 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 1.92 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.13. The company 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 8.52% and a return on equity of 13.17%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. Sell-side analysts predict that Edison International will post 4.94 EPS for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 3.85%. Edison International's dividend payout ratio is presently 91.50%.

Analysts Set New Price Targets

Several equities analysts have issued reports on EIX shares. Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, August 14th. Wells Fargo & Company lifted their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday. Royal Bank of Canada lifted their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Barclays lifted their price target on shares of Edison International from $89.00 to $91.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, UBS Group lifted their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Edison International currently has an average rating of "Moderate Buy" and a consensus target price of $88.36.

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.