Securian Asset Management Inc. Decreases Stake in Edison International (NYSE:EIX)

Securian Asset Management Inc. cut its holdings in Edison International (NYSE:EIX) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,807 shares of the utilities provider’s stock after selling 516 shares during the quarter. Securian Asset Management Inc.’s holdings in Edison International were worth $1,661,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of EIX. Assetmark Inc. boosted its stake in shares of Edison International by 32.9% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after buying an additional 157 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Edison International by 3.6% in the third quarter. Crossmark Global Holdings Inc. now owns 19,229 shares of the utilities provider’s stock valued at $1,675,000 after buying an additional 673 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of Edison International in the third quarter valued at approximately $259,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Edison International by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 932,866 shares of the utilities provider’s stock valued at $81,243,000 after buying an additional 8,586 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC boosted its stake in shares of Edison International by 23.7% in the third quarter. Prime Capital Investment Advisors LLC now owns 15,968 shares of the utilities provider’s stock valued at $1,391,000 after buying an additional 3,060 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on EIX. Barclays decreased their price target on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Mizuho decreased their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group decreased their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company decreased their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.54.

Edison International Stock Up 0.7 %

Shares of NYSE:EIX opened at $55.86 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The stock’s fifty day simple moving average is $57.02 and its 200-day simple moving average is $74.75. The company has a market capitalization of $21.51 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The business had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. As a group, equities research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.93%. Edison International’s payout ratio is currently 100.30%.

Edison International 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.