Acadian Asset Management LLC Takes $703,000 Position in Edison International (NYSE:EIX)

Acadian Asset Management LLC purchased a new position in Edison International (NYSE:EIX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,797 shares of the utilities provider’s stock, valued at approximately $703,000.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Edison International during the fourth quarter valued at approximately $210,327,000. Gladstone Institutional Advisory LLC boosted its position in Edison International by 17.2% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,499 shares of the utilities provider’s stock valued at $322,000 after acquiring an additional 661 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Edison International by 2.0% in the 4th quarter. D.A. Davidson & CO. now owns 37,955 shares of the utilities provider’s stock valued at $2,713,000 after acquiring an additional 726 shares during the period. Corient Private Wealth LLC raised its position in shares of Edison International by 0.3% in the 4th quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock worth $4,379,000 after acquiring an additional 175 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd raised its position in shares of Edison International by 12.8% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 162,480 shares of the utilities provider’s stock worth $11,616,000 after acquiring an additional 18,429 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EIX shares. UBS Group raised their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Evercore ISI raised their target price 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. Bank of America assumed coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Argus increased their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Barclays boosted their target price on 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 given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.83.

Insider Activity

In related news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock valued at $7,223,342 over the last quarter. Corporate insiders own 1.03% of the company’s stock.

Edison International Trading Down 0.2 %

NYSE:EIX opened at $86.06 on Wednesday. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The stock has a market cap of $33.11 billion, a P/E ratio of 37.75 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 stock has a 50-day simple moving average of $81.65 and a 200-day simple moving average of $75.21.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. As a group, analysts anticipate that Edison International will post 4.96 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

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.