AIA Group Ltd Lowers Stock Holdings in Edison International (NYSE:EIX)

AIA Group Ltd lessened its holdings in shares of Edison International (NYSE:EIX) by 39.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,736 shares of the utilities provider’s stock after selling 9,059 shares during the quarter. AIA Group Ltd’s holdings in Edison International were worth $1,097,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Edison International during the fourth quarter worth about $323,443,000. Vanguard Group Inc. increased its stake in shares of Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock valued at $3,879,408,000 after acquiring an additional 1,559,501 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Edison International during the 4th quarter worth about $39,344,000. AustralianSuper Pty Ltd purchased a new position in shares of Edison International during the 4th quarter worth about $31,877,000. Finally, Victory Capital Management Inc. boosted its position in shares of Edison International by 74.6% in the fourth quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock worth $72,379,000 after acquiring an additional 387,215 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 1.3 %

NYSE EIX opened at $58.95 on Tuesday. Edison International has a one year low of $49.06 and a one year high of $88.77. The firm has a market capitalization of $22.70 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company has a 50-day simple moving average of $54.93 and a 200-day simple moving average of $72.24.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. On average, equities analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.61%. Edison International’s dividend payout ratio is presently 100.30%.

Analyst Ratings Changes

Several equities analysts recently commented on EIX shares. Barclays dropped their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley lifted their price objective on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Wells Fargo & Company dropped their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, The Goldman Sachs Group reduced their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.