Edison International (NYSE:EIX) Stock Position Decreased by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its holdings in shares of Edison International (NYSE:EIX) by 4.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 30,312 shares of the utilities provider’s stock after selling 1,314 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Edison International were worth $2,639,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Highline Wealth Partners LLC bought a new position in Edison International in the 3rd quarter worth about $26,000. Ashton Thomas Private Wealth LLC bought a new position in Edison International in the 2nd quarter worth about $27,000. Eastern Bank acquired a new stake in shares of Edison International in the 3rd quarter worth approximately $27,000. Country Trust Bank acquired a new stake in shares of Edison International in the 2nd quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. lifted its stake in shares of Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 140 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Bank of America began coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Wells Fargo & Company raised their target price 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. Royal Bank of Canada raised their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Morgan Stanley raised their price objective on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.36.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,878 shares of company stock worth $4,285,422. 1.20% of the stock is owned by corporate insiders.

Edison International Stock Down 1.0 %

EIX stock opened at $81.16 on Thursday. Edison International has a 12-month low of $62.21 and a 12-month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a market cap of $31.42 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 1.88 and a beta of 0.92. The company has a 50 day moving average of $85.17 and a two-hundred day moving average of $79.08.

Edison International (NYSE:EIX) last released 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 company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.84%. Edison International’s dividend payout ratio is currently 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.