MetLife Investment Management LLC Sells 2,231 Shares of Edison International (NYSE:EIX)

MetLife Investment Management LLC decreased its holdings in shares of Edison International (NYSE:EIX) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,312 shares of the utilities provider’s stock after selling 2,231 shares during the period. MetLife Investment Management LLC’s holdings in Edison International were worth $8,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new position in shares of Edison International in the 3rd quarter worth approximately $26,000. Eastern Bank acquired a new position in Edison International during the third quarter worth $27,000. Larson Financial Group LLC lifted its holdings in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Edison International in the 3rd quarter valued at $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International in the 2nd quarter worth about $27,000. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EIX shares. Barclays lifted their price target on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Argus boosted their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Wells Fargo & Company raised 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 Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Insiders Place Their Bets

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’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 value of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.03% of the company’s stock.

Edison International Trading Up 0.7 %

Shares of NYSE EIX opened at $88.36 on Friday. The company’s 50 day simple moving average is $84.84 and its 200 day simple moving average is $80.46. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The firm has a market capitalization of $34.21 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.11 and a beta of 0.92.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for 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%. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company posted $1.38 EPS. On average, 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. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.53%. Edison International’s payout ratio is 91.50%.

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.