Chevy Chase Trust Holdings LLC Sells 2,333 Shares of Edison International (NYSE:EIX)

Chevy Chase Trust Holdings LLC decreased its position in shares of Edison International (NYSE:EIX) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 210,084 shares of the utilities provider’s stock after selling 2,333 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Edison International worth $15,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in Edison International by 1.7% in 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 period. Pzena Investment Management LLC boosted its stake in Edison International by 2.3% in the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after purchasing an additional 305,459 shares during the period. Capital International Investors boosted its stake in Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after purchasing an additional 795,950 shares during the period. Wellington Management Group LLP boosted its stake in Edison International by 4.4% in the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock worth $734,632,000 after purchasing an additional 433,845 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Edison International by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock worth $376,166,000 after purchasing an additional 202,541 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EIX shares. UBS Group downgraded Edison International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $83.00 to $82.00 in a research report on Friday, July 19th. Mizuho lifted their price target on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Argus lifted their price target on Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Wells Fargo & Company lifted their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Evercore ISI lifted their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Edison International currently has an average rating of “Hold” and an average target price of $80.09.

Insider Buying and Selling at Edison International

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The disclosure for this sale can be found here. Insiders have sold 73,845 shares of company stock worth $5,823,662 over the last quarter. Insiders own 1.03% of the company’s stock.

Edison International Stock Performance

Edison International stock traded up $0.61 during mid-day trading on Wednesday, reaching $84.32. 344,233 shares of the stock traded hands, compared to its average volume of 2,010,457. The stock has a market capitalization of $32.44 billion, a PE ratio of 36.82 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. Edison International has a 12-month low of $58.82 and a 12-month high of $84.42. The business’s 50-day moving average is $76.14 and its 200-day moving average is $72.46.

Edison International (NYSE:EIX) last issued its quarterly earnings results 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 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 analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s dividend payout ratio is presently 136.84%.

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.