Marks Group Wealth Management Inc Sells 11,006 Shares of Edison International (NYSE:EIX)

Marks Group Wealth Management Inc cut its stake in Edison International (NYSE:EIX) by 31.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,667 shares of the utilities provider’s stock after selling 11,006 shares during the period. Marks Group Wealth Management Inc’s holdings in Edison International were worth $1,890,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. AMF Tjanstepension AB lifted its holdings in shares of Edison International by 9.8% during the third quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock valued at $23,662,000 after acquiring an additional 24,208 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Edison International during the 3rd quarter worth about $236,000. CWM LLC raised its stake in shares of Edison International by 5.4% in the third quarter. CWM LLC now owns 12,313 shares of the utilities provider’s stock valued at $1,072,000 after acquiring an additional 626 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Edison International by 357.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,176 shares of the utilities provider’s stock valued at $189,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Edison International by 597.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,858 shares of the utilities provider’s stock worth $336,000 after buying an additional 3,305 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EIX. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. UBS Group decreased their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company boosted their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. Finally, Barclays cut their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Edison International Trading Up 1.3 %

Edison International stock opened at $50.84 on Wednesday. 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 firm has a 50-day moving average of $69.79 and a 200-day moving average of $79.30. The company has a market cap of $19.68 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.05 and a beta of 0.90. Edison International has a one year low of $49.06 and a one year high of $88.77.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.51%. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

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.