Zurich Insurance Group Ltd FI Buys Shares of 207,910 Edison International (NYSE:EIX)

Zurich Insurance Group Ltd FI purchased a new stake in Edison International (NYSE:EIX - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 207,910 shares of the utilities provider's stock, valued at approximately $18,107,000. Zurich Insurance Group Ltd FI owned 0.05% of Edison International at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Edison International in the 3rd quarter worth approximately $1,387,000. Swedbank AB grew its holdings in Edison International by 76.3% in the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider's stock valued at $32,073,000 after purchasing an additional 193,307 shares during the last quarter. Baker Avenue Asset Management LP purchased a new position in shares of Edison International in the third quarter valued at $2,291,000. Bank of Montreal Can increased its position in shares of Edison International by 5.3% in the second quarter. Bank of Montreal Can now owns 695,620 shares of the utilities provider's stock valued at $50,022,000 after buying an additional 34,701 shares in the last quarter. Finally, TIAA Trust National Association raised its stake in shares of Edison International by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider's stock worth $483,000 after buying an additional 134 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Down 1.1 %

Shares of NYSE EIX traded down $0.97 on Friday, hitting $83.95. The company had a trading volume of 2,041,160 shares, compared to its average volume of 2,181,558. The firm has a market capitalization of $32.50 billion, a P/E ratio of 24.62, a PEG ratio of 2.02 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The business has a 50 day moving average of $84.75 and a two-hundred day moving average of $80.93.

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

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.72%. Edison International's dividend payout ratio is presently 91.50%.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.03% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on EIX. Argus increased their target price on Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Royal Bank of Canada raised their price target on Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Wells Fargo & Company lifted their price target on Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Bank of America initiated coverage on shares of Edison International in a report on Thursday, September 12th. They set a "buy" rating and a $95.00 price objective on the stock. 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 report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently 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.