Sompo Asset Management Co. Ltd. Increases Stock Holdings in Edison International (NYSE:EIX)

Sompo Asset Management Co. Ltd. increased its holdings in Edison International (NYSE:EIX) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,070 shares of the utilities provider’s stock after acquiring an additional 1,790 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Edison International were worth $1,922,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lake Street Advisors Group LLC raised its stake in shares of Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after buying an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC raised its position in Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel lifted its holdings in shares of Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after purchasing an additional 130 shares in the last quarter. Equitable Trust Co. grew its position in shares of Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after purchasing an additional 132 shares during the last quarter. Finally, TIAA Trust National Association lifted its stake in Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after buying an additional 134 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. This trade represents a 54.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,516 shares of company stock worth $4,169,652 over the last 90 days. Insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

EIX has been the subject of a number of analyst reports. UBS Group boosted their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Evercore ISI upped 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. Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Barclays upped their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Down 0.7 %

Shares of NYSE EIX opened at $86.48 on Friday. The stock has a fifty day moving average price of $84.64 and a 200 day moving average price of $80.13. The company has a market cap of $33.48 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.08 and a beta of 0.92. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is presently 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.