Edison International (NYSE:EIX) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in shares of Edison International (NYSE:EIX) by 6.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 519,330 shares of the utilities provider’s stock after buying an additional 29,554 shares during the period. Victory Capital Management Inc.’s holdings in Edison International were worth $45,228,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Capital Research Global Investors grew its holdings in Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after buying an additional 345,189 shares during the last quarter. Capital International Investors lifted its stake in shares of Edison International by 6.4% during 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. Clearbridge Investments LLC lifted its stake in shares of Edison International by 0.5% during the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after purchasing an additional 24,834 shares during the period. American Century Companies Inc. lifted its stake in shares of Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after purchasing an additional 67,089 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of Edison International by 10.1% during the 2nd quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock worth $148,768,000 after purchasing an additional 190,026 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on EIX shares. Argus increased their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Jefferies Financial Group started coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. UBS Group increased their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Guggenheim increased their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Barclays increased their target price on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Trading Up 1.9 %

NYSE:EIX opened at $83.67 on Friday. The firm has a market capitalization of $32.39 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The business’s 50-day moving average is $84.61 and its two-hundred day moving average is $79.51. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 posted $1.38 earnings per share. Edison International’s revenue was up 10.6% on a year-over-year basis. Research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.73%. Edison International’s dividend payout ratio is currently 91.50%.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. This trade represents a 54.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,878 shares of company stock valued at $4,285,422 over the last quarter. Insiders own 1.03% of the company’s stock.

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.