Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Edison International (NYSE:EIX – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,893 shares of the utilities provider’s stock, valued at approximately $1,529,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 10Elms LLP purchased a new stake in Edison International during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC raised its stake in shares of Edison International by 170.3% in the fourth quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 281 shares during the last quarter. Ransom Advisory Ltd raised its stake in shares of Edison International by 74.9% in the fourth quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 259 shares during the last quarter. Ameriflex Group Inc. lifted its holdings in shares of Edison International by 100.0% during the third quarter. Ameriflex Group Inc. now owns 742 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 371 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. lifted its holdings in shares of Edison International by 866.7% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 702 shares in the last quarter. 88.95% of the stock is owned by institutional investors.
Edison International Stock Down 0.0%
Edison International stock opened at $75.63 on Friday. The stock has a market cap of $29.10 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74. Edison International has a one year low of $49.14 and a one year high of $76.21. The stock has a fifty day moving average of $71.28 and a 200 day moving average of $68.59.
Edison International Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Tuesday, July 7th. Edison International’s dividend payout ratio is 38.11%.
Insider Buying and Selling at Edison International
In related news, Director Peter J. Taylor sold 500 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $75.30, for a total value of $37,650.00. Following the transaction, the director owned 34,212 shares of the company’s stock, valued at approximately $2,576,163.60. This trade represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Barclays dropped their price objective on Edison International from $78.00 to $77.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Bank of America decreased their target price on Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Truist Financial lowered their target price on shares of Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. JPMorgan Chase & Co. raised their price target on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $62.00 price target on shares of Edison International in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $72.64.
Read Our Latest Stock Analysis on Edison International
Edison International Profile
Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.
The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.
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