Sanibel Captiva Trust Company Inc. Has $497,000 Position in Edison International (NYSE:EIX)

Sanibel Captiva Trust Company Inc. lifted its stake in shares of Edison International (NYSE:EIX) by 28.6% during the third quarter, Holdings Channel reports. The fund owned 5,710 shares of the utilities provider’s stock after buying an additional 1,269 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Edison International were worth $497,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Able Wealth Management LLC acquired a new position in shares of Edison International during the 4th quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International during the 2nd quarter valued at $27,000. Global Trust Asset Management LLC acquired a new position in shares of Edison International during the 1st quarter valued at $28,000. Country Trust Bank acquired a new position in shares of Edison International during the 2nd quarter valued at $29,000. Finally, Farmers & Merchants Investments Inc. increased its stake in Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group boosted their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Barclays boosted their price target on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Wells Fargo & Company boosted their price target on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Bank of America assumed coverage on shares of Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. Finally, Argus boosted their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $86.67.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by insiders.

Edison International Price Performance

Shares of NYSE:EIX opened at $83.61 on Friday. The company’s 50-day moving average is $84.91 and its 200 day moving average is $77.10. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The company has a market capitalization of $32.17 billion, a P/E ratio of 36.67, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. Edison International has a fifty-two week low of $61.64 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. On average, equities research analysts forecast that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

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.