OLD National Bancorp IN Makes New $208,000 Investment in Edison International (NYSE:EIX)

OLD National Bancorp IN purchased a new stake in shares of Edison International (NYSE:EIX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,384 shares of the utilities provider’s stock, valued at approximately $208,000.

Other hedge funds have also modified their holdings of the company. CreativeOne Wealth LLC bought a new stake in shares of Edison International during the first quarter valued at approximately $230,000. Swedbank AB grew its stake in shares of Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after purchasing an additional 193,307 shares during the last quarter. Brookstone Capital Management grew its stake in shares of Edison International by 3,503.3% during the first quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock valued at $9,573,000 after purchasing an additional 131,585 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Edison International by 44.9% during the first quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock valued at $3,272,000 after purchasing an additional 14,346 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Edison International by 14.5% during the first quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock valued at $22,744,000 after purchasing an additional 40,646 shares during the last quarter. 88.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Evercore ISI increased their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Bank of America initiated coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Barclays cut their price objective on shares of Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Finally, UBS Group increased their price objective 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. One investment 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’s stock. According to data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and an average target price of $87.55.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were 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 owns 6,338 shares of the company’s stock, valued at approximately $507,040. This trade represents 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 this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock worth $7,223,342 over the last ninety days. Company insiders own 1.03% of the company’s stock.

Edison International Trading Up 0.2 %

EIX opened at $86.00 on Thursday. The firm’s fifty day moving average is $85.47 and its two-hundred day moving average is $78.11. 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 firm has a market cap of $33.09 billion, a PE ratio of 37.72, a price-to-earnings-growth ratio of 1.98 and a beta of 0.91. Edison International has a twelve month low of $61.64 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the business posted $1.01 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. 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. Investors of record on Monday, October 7th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.63%. Edison International’s payout ratio is 136.84%.

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.