Fifth Third Wealth Advisors LLC Buys 2,554 Shares of Edison International (NYSE:EIX)

Fifth Third Wealth Advisors LLC raised its stake in shares of Edison International (NYSE:EIX) by 51.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,494 shares of the utilities provider’s stock after acquiring an additional 2,554 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Edison International were worth $653,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EIX. abrdn plc boosted its position in Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after purchasing an additional 885,955 shares during the last quarter. Capital International Investors boosted its holdings in shares of Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after buying an additional 795,950 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Edison International by 117.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after buying an additional 422,752 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Edison International by 595.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after buying an additional 272,876 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Edison International in the second quarter worth about $18,484,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group raised 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. Wells Fargo & Company lifted 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. Barclays boosted their price target on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada lifted their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. 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 company’s stock. According to MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Trading Up 0.6 %

EIX stock opened at $86.12 on Thursday. The company has a market capitalization of $33.34 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 2.00 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 has a one year low of $63.15 and a one year high of $88.77. The company’s 50 day moving average price is $84.57 and its two-hundred day moving average price is $79.94.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the firm posted $1.38 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.62%. Edison International’s payout ratio is currently 91.50%.

Insider Activity

In related news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. This represents a 54.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of Edison International 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,878 shares of company stock valued at $4,285,422. 1.03% of the stock is currently owned by company 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.