Colony Group LLC lessened its position in shares of Edison International (NYSE:EIX) by 16.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,877 shares of the utilities provider’s stock after selling 9,191 shares during the period. Colony Group LLC’s holdings in Edison International were worth $3,743,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Guardian Life Insurance Co. of America grew its holdings in Edison International by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 8 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in Edison International by 0.3% during the 2nd quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock worth $299,000 after acquiring an additional 12 shares in the last quarter. CENTRAL TRUST Co grew its holdings in Edison International by 0.7% during the 2nd quarter. CENTRAL TRUST Co now owns 3,008 shares of the utilities provider’s stock worth $235,000 after acquiring an additional 22 shares in the last quarter. Cleararc Capital Inc. grew its holdings in Edison International by 0.5% during the 1st quarter. Cleararc Capital Inc. now owns 7,944 shares of the utilities provider’s stock worth $632,000 after acquiring an additional 42 shares in the last quarter. Finally, HL Financial Services LLC grew its holdings in Edison International by 2.7% during the 2nd quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock worth $210,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.
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Shares of Edison International (NYSE:EIX) traded down 0.97% on Friday, hitting $78.89. 1,118,553 shares of the stock traded hands. The firm has a market cap of $25.70 billion, a P/E ratio of 18.65 and a beta of 0.22. Edison International has a 12-month low of $67.44 and a 12-month high of $82.82. The firm’s 50-day moving average is $79.36 and its 200 day moving average is $79.52.
Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 earnings per share. Equities research analysts forecast that Edison International will post $4.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Thursday, September 28th. Edison International’s dividend payout ratio is presently 50.82%.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of Edison International stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total value of $18,098,546.10. Following the completion of the transaction, the insider now owns 14,121 shares of the company’s stock, valued at $1,137,305.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.
Several research analysts have commented on EIX shares. BidaskClub cut shares of Edison International from a “hold” rating to a “sell” rating in a report on Sunday, June 25th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $89.00 price target on shares of Edison International in a report on Monday, October 2nd. Zacks Investment Research cut shares of Edison International from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Morgan Stanley reiterated an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. Finally, Jefferies Group LLC upgraded shares of Edison International from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $90.00 in a report on Friday, August 11th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Edison International has a consensus rating of “Hold” and a consensus target price of $84.75.
About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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