Edison International (NYSE:EIX) Shares Sold by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. cut its stake in shares of Edison International (NYSE:EIX) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,080 shares of the utilities provider’s stock after selling 200 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Edison International were worth $1,052,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in EIX. Capital Research Global Investors raised its holdings in shares of Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after purchasing an additional 345,189 shares during the last quarter. Capital International Investors raised its stake in shares of Edison International by 6.4% during the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after buying an additional 795,950 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after buying an additional 24,834 shares during the period. American Century Companies Inc. boosted its stake in shares of Edison International by 1.8% in the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after buying an additional 67,089 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Edison International by 10.1% during the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock worth $148,768,000 after acquiring an additional 190,026 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were 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 of the company’s stock, valued at $1,696,182.50. This trade represents a 54.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,878 shares of company stock valued at $4,285,422 in the last ninety days. Corporate insiders own 1.03% of the company’s stock.

Edison International Trading Up 1.9 %

Shares of EIX stock opened at $83.67 on Friday. 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 has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The firm’s 50 day moving average price is $84.61 and its two-hundred day moving average price is $79.51. The stock has a market cap of $32.39 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the firm posted $1.38 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts anticipate that Edison International will post 4.95 EPS for the current 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 paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.73%. Edison International’s dividend payout ratio (DPR) is 91.50%.

Wall Street Analysts Forecast Growth

EIX has been the subject of several recent analyst reports. Guggenheim lifted their price target on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.75.

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.