Swiss National Bank boosted its position in Edison International (NYSE:EIX) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,328,664 shares of the utilities provider’s stock after buying an additional 10,600 shares during the quarter. Swiss National Bank owned approximately 407,803.32% of Edison International worth $102,533,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Prudential Financial Inc. grew its stake in Edison International by 18.4% in the 2nd quarter. Prudential Financial Inc. now owns 552,076 shares of the utilities provider’s stock valued at $43,167,000 after buying an additional 85,968 shares during the last quarter. JPMorgan Chase & Co. grew its position in Edison International by 3.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock worth $1,197,430,000 after purchasing an additional 526,261 shares during the last quarter. Principal Financial Group Inc. grew its position in Edison International by 1.9% in the 2nd quarter. Principal Financial Group Inc. now owns 655,277 shares of the utilities provider’s stock worth $51,236,000 after purchasing an additional 12,086 shares during the last quarter. GAM Holding AG grew its position in Edison International by 8.0% in the 2nd quarter. GAM Holding AG now owns 43,152 shares of the utilities provider’s stock worth $3,374,000 after purchasing an additional 3,198 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK grew its position in Edison International by 5.4% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 505,199 shares of the utilities provider’s stock worth $39,502,000 after purchasing an additional 25,936 shares during the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.
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A number of equities analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $84.00 price objective on shares of Edison International in a report on Sunday, September 17th. Morgan Stanley raised their price objective on shares of Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Friday, September 8th. Mizuho reaffirmed a “buy” rating and set a $87.00 price objective (up from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Bank of America Corporation reaffirmed a “buy” rating and set a $86.00 price objective on shares of Edison International in a report on Tuesday, October 24th. Finally, BidaskClub raised shares of Edison International from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $85.08.
In related news, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the completion of the transaction, the insider now owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by insiders.
Edison International (NYSE EIX) opened at $80.06 on Friday. The stock has a market cap of $26,175.67, a P/E ratio of 18.30, a P/E/G ratio of 2.91 and a beta of 0.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.51. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. equities analysts forecast that Edison International will post 4.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were issued a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Thursday, September 28th. Edison International’s dividend payout ratio is currently 48.98%.
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.
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