Commerzbank Aktiengesellschaft FI Acquires Shares of 2,432 Edison International (NYSE:EIX)

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Edison International (NYSE:EIX) in the third quarter, Holdings Channel reports. The firm acquired 2,432 shares of the utilities provider’s stock, valued at approximately $212,000.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International in the 2nd quarter worth $27,000. Eastern Bank bought a new stake in shares of Edison International in the 3rd quarter worth $27,000. Country Trust Bank bought a new stake in shares of Edison International in the 2nd quarter worth $29,000. Farmers & Merchants Investments Inc. increased 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 worth $29,000 after purchasing an additional 140 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Edison International in the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Activity at Edison International

In related news, 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 transaction of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,104 shares of company stock worth $4,949,264. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Morgan Stanley lifted their target price on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Barclays cut their price objective on Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Guggenheim lifted their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Argus lifted their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.55.

Edison International Price Performance

NYSE EIX opened at $85.60 on Friday. The company has a market capitalization of $33.06 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 1.98 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The business’s fifty day moving average is $85.47 and its 200 day moving average is $78.11. Edison International has a fifty-two week low of $61.64 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. Sell-side analysts predict that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.64%. Edison International’s dividend payout ratio (DPR) is presently 125.30%.

About Edison International

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.