Advisors Asset Management Inc. Reduces Stock Position in Edison International (NYSE:EIX)

Advisors Asset Management Inc. trimmed its holdings in Edison International (NYSE:EIX) by 29.3% during the third quarter, HoldingsChannel.com reports. The firm owned 21,428 shares of the utilities provider’s stock after selling 8,873 shares during the period. Advisors Asset Management Inc.’s holdings in Edison International were worth $1,866,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in Edison International in the third quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International in the 2nd quarter valued at about $27,000. Eastern Bank bought a new position in shares of Edison International during the third quarter worth about $27,000. Country Trust Bank acquired a new position in Edison International in the second quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. increased its holdings in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on EIX. Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley reduced their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday. UBS Group boosted their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Jefferies Financial Group started coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Finally, Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Edison International currently has an average rating of “Moderate Buy” and an average price target of $88.75.

Edison International Trading Down 0.7 %

Shares of EIX stock opened at $86.48 on Monday. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The firm has a market capitalization of $33.48 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.92. The stock has a fifty day moving average of $84.64 and a two-hundred day moving average of $80.17. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.38 earnings per share. As a group, research analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.61%. Edison International’s payout ratio is 91.50%.

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.