53,932 Shares in Consolidated Edison Inc (NYSE:ED) Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new stake in Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 53,932 shares of the utilities provider’s stock, valued at approximately $4,359,000.

Several other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in Consolidated Edison by 3.8% in the first quarter. Ameriprise Financial Inc. now owns 215,980 shares of the utilities provider’s stock valued at $16,770,000 after buying an additional 8,002 shares in the last quarter. Teachers Advisors LLC boosted its position in Consolidated Edison by 14.8% in the fourth quarter. Teachers Advisors LLC now owns 649,810 shares of the utilities provider’s stock valued at $47,878,000 after buying an additional 83,824 shares in the last quarter. Rockland Trust Co. boosted its position in Consolidated Edison by 3.3% in the first quarter. Rockland Trust Co. now owns 55,856 shares of the utilities provider’s stock valued at $4,338,000 after buying an additional 1,799 shares in the last quarter. Dai Ichi Life Insurance Company Ltd boosted its position in Consolidated Edison by 16.4% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 63,364 shares of the utilities provider’s stock valued at $4,921,000 after buying an additional 8,918 shares in the last quarter. Finally, Washington Trust Bank boosted its position in Consolidated Edison by 272.4% in the first quarter. Washington Trust Bank now owns 3,352 shares of the utilities provider’s stock valued at $260,000 after buying an additional 2,452 shares in the last quarter. Institutional investors own 55.82% of the company’s stock.

Consolidated Edison Inc (NYSE:ED) traded down 0.05% on Wednesday, hitting $82.70. The company had a trading volume of 1,804,498 shares. The stock’s 50-day moving average price is $82.24 and its 200 day moving average price is $78.85. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $85.13. The company has a market capitalization of $25.25 billion, a P/E ratio of 19.05 and a beta of 0.08.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 4th. The utilities provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.08. Consolidated Edison had a net margin of 10.90% and a return on equity of 9.05%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the firm earned $1.18 EPS. On average, analysts expect that Consolidated Edison Inc will post $4.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.34%. The ex-dividend date is Monday, August 14th. Consolidated Edison’s payout ratio is currently 63.59%.

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Several research firms recently issued reports on ED. UBS AG raised their price target on Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 8th. Zacks Investment Research cut Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub lowered Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. BMO Capital Markets reissued a “hold” rating and issued a $80.00 target price on shares of Consolidated Edison in a research note on Monday, May 15th. Finally, Morgan Stanley increased their target price on Consolidated Edison from $77.00 to $78.00 and gave the company an “underweight” rating in a research note on Monday, May 8th. Six equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Consolidated Edison has an average rating of “Hold” and a consensus target price of $76.82.

In other Consolidated Edison news, Director Linda S. Sanford bought 900 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $79.74 per share, with a total value of $71,766.00. Following the purchase, the director now directly owns 8,748 shares in the company, valued at $697,565.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 1,240 shares of company stock worth $100,090. 0.20% of the stock is owned by insiders.

About Consolidated Edison

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).