Virtu Financial LLC Invests $1.79 Million in Edison International (NYSE:EIX)

Virtu Financial LLC purchased a new position in shares of Edison International (NYSE:EIX - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,563 shares of the utilities provider's stock, valued at approximately $1,791,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new position in shares of Edison International in the third quarter valued at $26,000. Groupama Asset Managment boosted its position in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock valued at $26,000 after buying an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International during the second quarter worth about $27,000. Eastern Bank acquired a new position in shares of Edison International in the third quarter worth about $27,000. Finally, Farmers & Merchants Investments Inc. lifted its stake in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider's stock worth $29,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analyst Upgrades and Downgrades

EIX has been the topic of several analyst reports. Barclays lifted their price objective on Edison International from $89.00 to $91.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Bank of America initiated coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a "buy" rating and a $95.00 price target for the company. Royal Bank of Canada increased their price objective 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. Jefferies Financial Group assumed coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a "buy" rating and a $93.00 target price for the company. Finally, Morgan Stanley reduced their price target on shares of Edison International from $74.00 to $72.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.75.

Edison International Stock Performance

Shares of NYSE:EIX traded up $0.27 during trading on Friday, hitting $81.89. 1,197,246 shares of the company traded hands, compared to its average volume of 2,029,532. The stock has a market capitalization of $31.70 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.95 and a beta of 0.92. Edison International has a one year low of $63.15 and a one year high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The business's fifty day moving average is $84.35 and its 200-day moving average is $81.06.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period last year, the company earned $1.38 earnings per share. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a $0.8275 dividend. This is a boost from Edison International's previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 4.04%. Edison International's dividend payout ratio is 91.50%.

Insider Buying and Selling at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.