Hartford Investment Management Co. Sells 464 Shares of Edison International (NYSE:EIX)

Hartford Investment Management Co. lowered its holdings in Edison International (NYSE:EIX) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,970 shares of the utilities provider’s stock after selling 464 shares during the period. Hartford Investment Management Co.’s holdings in Edison International were worth $1,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after purchasing an additional 224,337 shares in the last quarter. FMR LLC grew its stake in shares of Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Edison International by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after buying an additional 210,461 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after buying an additional 28,240 shares during the last quarter. Finally, abrdn plc raised its position in Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after acquiring an additional 276,656 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on EIX shares. UBS Group decreased their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company upped their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley dropped their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 target price on shares of Edison International in a report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $82.11.

Edison International Price Performance

Shares of NYSE:EIX opened at $51.55 on Friday. The firm has a 50 day moving average of $68.48 and a 200-day moving average of $78.92. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $19.96 billion, a PE ratio of 15.12, a PEG ratio of 1.05 and a beta of 0.90.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 6.42%. The ex-dividend date was Tuesday, January 7th. Edison International’s payout ratio is currently 97.07%.

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.