Edison International (NYSE:EIX) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc reduced its position in shares of Edison International (NYSE:EIX) by 17.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,483 shares of the utilities provider’s stock after selling 21,332 shares during the period. Impax Asset Management Group plc’s holdings in Edison International were worth $8,751,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norden Group LLC purchased a new stake in shares of Edison International during the 1st quarter valued at approximately $369,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Edison International by 19.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,868 shares of the utilities provider’s stock valued at $5,206,000 after purchasing an additional 11,967 shares during the last quarter. Csenge Advisory Group grew its holdings in shares of Edison International by 5.1% during the 1st quarter. Csenge Advisory Group now owns 9,266 shares of the utilities provider’s stock worth $655,000 after purchasing an additional 452 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Edison International by 27.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,734 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 370 shares during the last quarter. Finally, Cohen Capital Management Inc. raised its holdings in Edison International by 0.5% in the 1st quarter. Cohen Capital Management Inc. now owns 35,744 shares of the utilities provider’s stock valued at $2,528,000 after buying an additional 161 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on 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 document filed with the SEC, which is available through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,877 shares of company stock valued at $4,285,341 over the last quarter. 1.20% of the stock is owned by insiders.

Edison International Price Performance

EIX stock opened at $81.97 on Wednesday. The business’s 50-day moving average is $85.25 and its two-hundred day moving average is $79.06. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market capitalization of $31.73 billion, a P/E ratio of 24.04, a P/E/G ratio of 1.89 and a beta of 0.92. Edison International has a 1 year low of $62.21 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the company earned $1.38 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. Analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal 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 paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.81%. Edison International’s payout ratio is currently 91.50%.

Wall Street Analyst Weigh In

EIX has been the subject of several research analyst reports. Guggenheim increased their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Barclays increased their price objective on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Morgan Stanley raised their price target on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Finally, Argus increased their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

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.