Edison International (NYSE:EIX) Shares Bought by KBC Group NV

KBC Group NV grew its position in Edison International (NYSE:EIX) by 93.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,578 shares of the utilities provider’s stock after acquiring an additional 23,935 shares during the period. KBC Group NV’s holdings in Edison International were worth $4,318,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Huntington National Bank raised its stake in shares of Edison International by 30.8% during the 3rd quarter. Huntington National Bank now owns 5,013 shares of the utilities provider’s stock worth $437,000 after buying an additional 1,179 shares during the period. Oppenheimer Asset Management Inc. raised its position in Edison International by 3.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 10,892 shares of the utilities provider’s stock worth $949,000 after acquiring an additional 407 shares during the period. Victory Capital Management Inc. lifted its holdings in Edison International by 6.0% during the third quarter. Victory Capital Management Inc. now owns 519,330 shares of the utilities provider’s stock valued at $45,228,000 after purchasing an additional 29,554 shares in the last quarter. First Heartland Consultants Inc. acquired a new stake in shares of Edison International in the third quarter valued at about $212,000. Finally, Aigen Investment Management LP grew its position in shares of Edison International by 46.9% in the third quarter. Aigen Investment Management LP now owns 21,086 shares of the utilities provider’s stock valued at $1,836,000 after purchasing an additional 6,733 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. This trade represents a 54.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. Insiders have sold 50,878 shares of company stock valued at $4,285,422 over the last 90 days. 1.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of research reports. Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Royal Bank of Canada increased their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Evercore ISI lifted their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their target price on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Price Performance

Shares of EIX stock opened at $83.68 on Monday. The firm’s 50-day moving average is $84.55 and its two-hundred day moving average is $79.72. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market capitalization of $32.40 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. Analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is 91.50%.

Edison International Company 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.