RiverFront Investment Group LLC Increases Stock Holdings in Edison International (NYSE:EIX)

RiverFront Investment Group LLC lifted its stake in shares of Edison International (NYSE:EIX) by 24.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,786 shares of the utilities provider’s stock after buying an additional 1,133 shares during the quarter. RiverFront Investment Group LLC’s holdings in Edison International were worth $415,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Equitable Trust Co. raised its stake in Edison International by 0.9% during the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after acquiring an additional 132 shares in the last quarter. TIAA Trust National Association increased its position in shares of Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after purchasing an additional 134 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Edison International by 53.8% in the 2nd 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 last quarter. Asset Dedication LLC boosted its position in shares of Edison International by 37.5% in the 2nd quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 150 shares during the period. Finally, Carson Advisory Inc. boosted its position in shares of Edison International by 0.3% in the 1st quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on EIX. Guggenheim boosted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $94.00 price target on shares of Edison International in a research report on Monday, September 16th. Evercore ISI increased their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Bank of America began coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Barclays increased their target price on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Edison International presently has an average rating of “Hold” and a consensus price target of $86.17.

Edison International Trading Up 0.7 %

Shares of Edison International stock opened at $87.73 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The firm has a market cap of $33.88 billion, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 2.01 and a beta of 0.91. Edison International has a 52-week low of $58.82 and a 52-week high of $88.77. The company’s 50-day simple moving average is $83.97 and its 200-day simple moving average is $76.43.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. As a group, equities research analysts anticipate that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Edison International Company Profile

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.