Assenagon Asset Management S.A. Buys 16,362 Shares of Edison International (NYSE:EIX)

Assenagon Asset Management S.A. boosted its stake in Edison International (NYSE:EIX) by 119.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,014 shares of the utilities provider’s stock after acquiring an additional 16,362 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Edison International were worth $2,396,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Highline Wealth Partners LLC acquired a new stake in shares of Edison International in the 3rd quarter valued at about $26,000. Groupama Asset Managment grew its holdings in shares of Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares in the last quarter. Eastern Bank acquired a new stake in Edison International in the 3rd quarter valued at approximately $27,000. Larson Financial Group LLC lifted its stake in Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Edison International during the 3rd quarter worth approximately $32,000. 88.95% of the stock is owned by institutional investors.

Edison International Price Performance

NYSE:EIX opened at $58.12 on Thursday. Edison International has a 12-month low of $55.27 and a 12-month high of $88.77. The firm has a market capitalization of $22.50 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 1.29 and a beta of 0.93. The stock’s 50 day moving average price is $78.67 and its two-hundred day moving average price is $81.28. 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 (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the prior year, the business earned $1.38 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts anticipate that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Analyst Ratings Changes

EIX has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Wells Fargo & Company lifted their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research note on Wednesday, January 15th. UBS Group lowered their target price on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Royal Bank of Canada upped their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.58.

Insider Buying and Selling

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred on 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 can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

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.