Sompo Asset Management Co. Ltd. Increases Holdings in Edison International (NYSE:EIX)

Sompo Asset Management Co. Ltd. increased its position in Edison International (NYSE:EIX) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,070 shares of the utilities provider’s stock after purchasing an additional 1,790 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Edison International were worth $1,922,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. CreativeOne Wealth LLC bought a new position in shares of Edison International during the 1st quarter worth $230,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Edison International during the 3rd quarter worth about $1,387,000. Swedbank AB increased its position in Edison International by 76.3% during the 2nd 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 period. Janus Henderson Group PLC raised its holdings in shares of Edison International by 150.6% in the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock valued at $12,004,000 after purchasing an additional 102,000 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Edison International by 955.8% in the 1st quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider’s stock worth $7,413,000 after purchasing an additional 94,878 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EIX. Argus lifted their price objective 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. 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 price target for the company. Jefferies Financial Group initiated coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, UBS Group boosted 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Stock Performance

NYSE:EIX opened at $86.48 on Friday. The company has a fifty day moving average of $84.64 and a two-hundred day moving average of $80.13. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The stock has a market capitalization of $33.48 billion, a PE ratio of 25.36, a P/E/G ratio of 2.08 and a beta of 0.92. 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 issued its quarterly 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. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share. As a group, research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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

Insider Buying and Selling at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 54.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,516 shares of company stock worth $4,169,652 in the last three months. 1.03% of the stock is owned by corporate insiders.

About Edison International

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.