Corebridge Financial Inc. Sells 4,215 Shares of Edison International (NYSE:EIX)

Corebridge Financial Inc. trimmed its holdings in shares of Edison International (NYSE:EIX) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,625 shares of the utilities provider’s stock after selling 4,215 shares during the quarter. Corebridge Financial Inc.’s holdings in Edison International were worth $7,315,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of EIX. Crews Bank & Trust acquired a new position in shares of Edison International during the 4th quarter worth approximately $25,000. Groupama Asset Managment boosted its stake in shares of Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares during the period. Larson Financial Group LLC grew its position in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares in the last quarter. Sierra Ocean LLC bought a new position in Edison International during the 4th quarter worth $33,000. Finally, ST Germain D J Co. Inc. raised its holdings in Edison International by 88.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 1.6 %

Shares of EIX stock opened at $58.20 on Friday. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The stock’s fifty day simple moving average is $55.00 and its 200 day simple moving average is $72.59. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $22.41 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). The firm had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, sell-side analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.69%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is currently 100.30%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Mizuho decreased their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and cut their price target for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. Finally, Morgan Stanley upped their target price on Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $76.82.

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.