Public Employees Retirement System of Ohio Sells 8,711 Shares of Edison International (NYSE:EIX)

Public Employees Retirement System of Ohio trimmed its stake in Edison International (NYSE:EIX - Free Report) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,784 shares of the utilities provider's stock after selling 8,711 shares during the period. Public Employees Retirement System of Ohio's holdings in Edison International were worth $12,522,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EIX. Groupama Asset Managment lifted its position in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock worth $26,000 after purchasing an additional 237 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Edison International by 0.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 131,489 shares of the utilities provider's stock valued at $11,451,000 after buying an additional 849 shares in the last quarter. Zacks Investment Management bought a new position in shares of Edison International during the 3rd quarter worth about $4,673,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of Edison International during the 3rd quarter valued at about $18,107,000. Finally, National Bank of Canada FI increased its stake in Edison International by 67.5% in the third quarter. National Bank of Canada FI now owns 226,971 shares of the utilities provider's stock valued at $19,767,000 after acquiring an additional 91,489 shares during the period. Institutional investors own 88.95% of the company's stock.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.03% of the company's stock.

Edison International Price Performance

Shares of EIX traded up $0.04 during mid-day trading on Thursday, hitting $81.62. 1,430,027 shares of the company traded hands, compared to its average volume of 2,033,000. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $31.60 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 2.01 and a beta of 0.92. The business has a 50-day moving average of $84.46 and a 200 day moving average of $81.06. Edison International has a one year low of $63.15 and a one year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $1.38 EPS. As a group, equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. This is a boost from Edison International's previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 4.06%. Edison International's payout ratio is currently 91.50%.

Analysts Set New Price Targets

A number of research analysts have commented on EIX shares. Evercore ISI raised their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 14th. Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They issued a "buy" rating and a $93.00 price target on the stock. Barclays upped their price target on Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. UBS Group lifted their price objective on Edison International from $86.00 to $89.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. Finally, Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They issued a "buy" rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $88.75.

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.