Pacer Advisors Inc. cut its stake in shares of Edison International (NYSE:EIX) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 6,269 shares of the company’s stock after selling 38 shares during the period. Pacer Advisors Inc.’s holdings in Edison International were worth $453,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Edison International by 2.3% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,975 shares of the company’s stock valued at $775,000 after buying an additional 223 shares in the last quarter. First Midwest Bank Trust Division increased its stake in shares of Edison International by 54.7% in the second quarter. First Midwest Bank Trust Division now owns 11,766 shares of the company’s stock valued at $914,000 after buying an additional 4,160 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Edison International by 619.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 74,158 shares of the company’s stock valued at $5,760,000 after buying an additional 63,847 shares in the last quarter. Artemis Investment Management LLP increased its stake in shares of Edison International by 44.8% in the second quarter. Artemis Investment Management LLP now owns 288,691 shares of the company’s stock valued at $22,421,000 after buying an additional 89,330 shares in the last quarter. Finally, Conning Inc. increased its stake in shares of Edison International by 4.0% in the second quarter. Conning Inc. now owns 7,977 shares of the company’s stock valued at $620,000 after buying an additional 310 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.
Shares of Edison International (NYSE:EIX) traded down 0.29% during mid-day trading on Wednesday, hitting $72.30. The stock had a trading volume of 1,173,647 shares. The stock’s 50-day moving average is $71.08 and its 200-day moving average is $72.71. Edison International has a 1-year low of $58.45 and a 1-year high of $78.72. The firm has a market capitalization of $23.56 billion, a PE ratio of 26.81 and a beta of 0.13.
Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, November 1st. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.06. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $2.91 billion. Edison International had a return on equity of 9.59% and a net margin of 8.80%. Edison International’s revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. Equities analysts expect that Edison International will post $3.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be paid a $0.5425 dividend. The ex-dividend date is Wednesday, December 28th. This is a positive change from Edison International’s previous quarterly dividend of $0.48. This represents a $2.17 annualized dividend and a yield of 3.00%. Edison International’s dividend payout ratio (DPR) is 80.67%.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, September 27th. SunTrust Banks, Inc. lifted their price target on Edison International from $82.00 to $84.00 and gave the company a “buy” rating in a report on Monday, September 26th. RBC Capital Markets set a $81.00 price target on Edison International and gave the company a “buy” rating in a report on Wednesday, January 4th. Citigroup Inc. cut their price target on Edison International from $79.00 to $76.00 and set a “neutral” rating for the company in a report on Tuesday, October 4th. Finally, Argus cut their price target on Edison International from $86.00 to $81.00 and set a “buy” rating for the company in a report on Tuesday, October 4th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $77.35.
In related news, insider Ronald L. Litzinger sold 38,086 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $2,643,168.40. Following the sale, the insider now directly owns 12,054 shares of the company’s stock, valued at $836,547.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.51% of the stock is owned by corporate insiders.
About Edison International
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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