Edison International (NYSE:EIX) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its holdings in Edison International (NYSE:EIX) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 496,604 shares of the utilities provider’s stock after selling 24,401 shares during the period. Citigroup Inc. owned about 0.13% of Edison International worth $43,249,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Highline Wealth Partners LLC acquired a new stake in Edison International in the third quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in Edison International in the second quarter valued at approximately $27,000. Eastern Bank acquired a new stake in Edison International in the third quarter valued at approximately $27,000. Country Trust Bank acquired a new stake in Edison International in the second quarter valued at approximately $29,000. Finally, Farmers & Merchants Investments Inc. grew its holdings in Edison International by 53.8% in the second 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 during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EIX. UBS Group raised their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company raised their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Argus raised their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Evercore ISI raised their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Finally, Bank of America assumed coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was 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 available through this hyperlink. Company insiders own 1.03% of the company’s stock.

Edison International Trading Down 0.7 %

EIX opened at $86.48 on Monday. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The stock has a market capitalization of $33.48 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 2.08 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business has a fifty day moving average price of $84.64 and a 200 day moving average price of $80.17.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

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.