Sentry Investment Management LLC Has $119,000 Position in Edison International (NYSE:EIX)

Sentry Investment Management LLC decreased its stake in Edison International (NYSE:EIX) by 17.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,662 shares of the utilities provider’s stock after selling 341 shares during the period. Sentry Investment Management LLC’s holdings in Edison International were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in EIX. Capital Research Global Investors raised its holdings in Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after purchasing an additional 345,189 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Edison International by 2.3% during the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after buying an additional 305,459 shares during the period. Capital International Investors raised its stake in Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after buying an additional 795,950 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Edison International by 4.4% in the fourth quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock valued at $734,632,000 after buying an additional 433,845 shares during the period. Finally, Norges Bank bought a new stake in Edison International during the fourth quarter valued at $210,327,000. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EIX. Barclays lifted their price objective on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Morgan Stanley boosted their price target on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Evercore ISI lifted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Mizuho increased their target price on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Bank of America assumed coverage on shares of Edison International in a research note on Thursday. They issued a “buy” rating and a $95.00 price target for the company. One 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $84.67.

Edison International Stock Performance

Shares of EIX opened at $84.60 on Friday. The firm has a market capitalization of $32.67 billion, a P/E ratio of 37.11 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 stock has a 50 day moving average price of $80.80 and a two-hundred day moving average price of $74.71. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates 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 prior year, the firm posted $1.01 EPS. Equities analysts forecast that Edison International will post 4.96 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.69%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,687,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,099 shares of company stock valued at $7,223,342. Corporate insiders own 1.03% of the company’s stock.

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.