The Manufacturers Life Insurance Company Purchases 23,135 Shares of Edison International (NYSE:EIX)

The Manufacturers Life Insurance Company lifted its position in Edison International (NYSE:EIX) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 230,755 shares of the utilities provider’s stock after acquiring an additional 23,135 shares during the period. The Manufacturers Life Insurance Company’s holdings in Edison International were worth $16,571,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EIX. CreativeOne Wealth LLC purchased a new position in Edison International during the 1st quarter valued at about $230,000. Swedbank AB boosted its position in shares of Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after purchasing an additional 193,307 shares in the last quarter. Brookstone Capital Management boosted its position in shares of Edison International by 3,503.3% in the 1st quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock worth $9,573,000 after purchasing an additional 131,585 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Edison International by 44.9% in the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after buying an additional 14,346 shares during the last quarter. Finally, Sei Investments Co. increased its position in Edison International by 14.5% during the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock valued at $22,744,000 after buying an additional 40,646 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In other news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,099 shares of company stock valued at $7,223,342. Company insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their target price on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Morgan Stanley increased their price objective on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $94.00 target price on shares of Edison International in a report on Monday, September 16th. Finally, Argus increased their price target 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.17.

Edison International Trading Down 0.3 %

Edison International stock opened at $87.48 on Thursday. Edison International has a 52-week low of $58.82 and a 52-week high of $88.77. The company has a market cap of $33.78 billion, a P/E ratio of 38.37, a P/E/G ratio of 2.01 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The business has a 50-day simple moving average of $84.20 and a two-hundred day simple moving average of $76.51.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. Analysts predict that Edison International will post 4.97 EPS for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.57%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

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.