Legal & General Group Plc boosted its position in Edison International (NYSE:EIX) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,601,131 shares of the utilities provider’s stock after buying an additional 162,623 shares during the period. Legal & General Group Plc owned about 0.80% of Edison International worth $203,394,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of EIX. Guardian Life Insurance Co. of America raised its stake in shares of Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock worth $100,000 after buying an additional 8 shares in the last quarter. Jones Collombin Investment Counsel Inc raised its stake in shares of Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock worth $139,000 after buying an additional 715 shares in the last quarter. Wayne Hummer Investments L.L.C. purchased a new stake in shares of Edison International during the first quarter worth about $200,000. Parallel Advisors LLC raised its stake in shares of Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock worth $198,000 after buying an additional 741 shares in the last quarter. Finally, Gofen & Glossberg LLC IL purchased a new stake in shares of Edison International during the first quarter worth about $201,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Edison International (NYSE EIX) opened at 78.94 on Friday. The stock has a market cap of $25.72 billion, a P/E ratio of 18.67 and a beta of 0.22. The firm has a 50-day moving average price of $78.45 and a 200-day moving average price of $78.93. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82.
Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. On average, analysts anticipate that Edison International will post $4.24 EPS for the current fiscal year.
A number of equities analysts have weighed in on the company. UBS AG lowered Edison International from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $82.00 to $80.00 in a research note on Wednesday, May 17th. Morgan Stanley boosted their price objective on Edison International from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Jefferies Group LLC raised Edison International from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $90.00 in a research note on Friday, August 11th. BMO Capital Markets reissued a “buy” rating and set a $85.00 price objective on shares of Edison International in a research note on Thursday. Finally, Citigroup Inc. reissued a “neutral” rating and set a $84.00 price objective (down previously from $85.00) on shares of Edison International in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $84.35.
In other news, insider Gaddi H. Vasquez sold 2,500 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $81.30, for a total transaction of $203,250.00. Following the sale, the insider now owns 4,550 shares in the company, valued at $369,915. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ronald L. Litzinger sold 224,715 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the sale, the insider now owns 14,121 shares in the company, valued at approximately $1,137,305.34. The disclosure for this sale can be found here. Insiders have sold 229,715 shares of company stock worth $18,505,971 in the last 90 days. Insiders own 0.41% of the company’s stock.
About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.
