Sei Investments Co. Acquires 26,246 Shares of Edison International (NYSE:EIX)

Sei Investments Co. raised its stake in shares of Edison International (NYSE:EIX) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 347,813 shares of the utilities provider’s stock after acquiring an additional 26,246 shares during the quarter. Sei Investments Co. owned approximately 0.09% of Edison International worth $24,976,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in EIX. Skandinaviska Enskilda Banken AB publ grew its stake in Edison International by 206.5% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 222,581 shares of the utilities provider’s stock valued at $15,984,000 after purchasing an additional 149,951 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Edison International by 9.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 11,038 shares of the utilities provider’s stock valued at $793,000 after buying an additional 980 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Edison International by 18.5% in the 2nd quarter. Intech Investment Management LLC now owns 54,800 shares of the utilities provider’s stock worth $3,935,000 after buying an additional 8,537 shares during the last quarter. ProVise Management Group LLC raised its stake in shares of Edison International by 0.9% during the 2nd quarter. ProVise Management Group LLC now owns 69,565 shares of the utilities provider’s stock worth $4,995,000 after acquiring an additional 610 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in Edison International during the second quarter valued at approximately $446,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Down 0.2 %

NYSE:EIX opened at $85.94 on Wednesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The company’s fifty day moving average price is $82.82 and its 200-day moving average price is $75.81. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77. The firm has a market capitalization of $33.07 billion, a P/E ratio of 37.69, a PEG ratio of 1.99 and a beta of 0.91.

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

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be given a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.63%. Edison International’s dividend payout ratio is presently 136.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EIX. Barclays upped their price target 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. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. UBS Group raised their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley increased their price objective on shares of Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Finally, Evercore ISI boosted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Edison International has a consensus rating of “Hold” and a consensus target price of $85.83.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 1,362 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the company’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 completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock valued at $7,223,342 in the last 90 days. 1.03% of the stock is currently owned by company insiders.

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.