Dai ichi Life Insurance Company Ltd Makes New Investment in Edison International (NYSE:EIX)

Dai ichi Life Insurance Company Ltd purchased a new position in shares of Edison International (NYSE:EIX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,480 shares of the utilities provider’s stock, valued at approximately $1,087,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in shares of Edison International in the 3rd quarter worth approximately $26,000. Eastern Bank acquired a new position in shares of Edison International in the 3rd quarter worth approximately $27,000. Larson Financial Group LLC boosted its holdings in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Edison International in the 3rd quarter worth approximately $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International in the 2nd quarter worth approximately $27,000. Institutional investors own 88.95% of the company’s stock.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Edison International Price Performance

EIX opened at $88.39 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The company has a fifty day simple moving average of $84.76 and a 200 day simple moving average of $80.41. The stock has a market cap of $34.22 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.09 and a beta of 0.92.

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. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. On average, research analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Analyst Ratings Changes

Several research analysts have recently commented on EIX shares. Argus boosted their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. Wells Fargo & Company upped their price objective on 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 upped their price objective on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Evercore ISI upped their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

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.