Edison International (NYSE:EIX) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its stake in Edison International (NYSE:EIXFree Report) by 2.0% during the 3rd quarter, Holdings Channel reports. The fund owned 683,597 shares of the utilities provider’s stock after selling 14,025 shares during the period. Citigroup Inc.’s holdings in Edison International were worth $43,265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Parallel Advisors LLC lifted its position in Edison International by 5.0% during the second quarter. Parallel Advisors LLC now owns 3,306 shares of the utilities provider’s stock worth $230,000 after buying an additional 156 shares during the period. Bleakley Financial Group LLC lifted its position in Edison International by 2.4% during the second quarter. Bleakley Financial Group LLC now owns 7,052 shares of the utilities provider’s stock worth $490,000 after buying an additional 162 shares during the period. First Trust Direct Indexing L.P. lifted its position in Edison International by 2.5% during the third quarter. First Trust Direct Indexing L.P. now owns 6,604 shares of the utilities provider’s stock worth $418,000 after buying an additional 162 shares during the period. Independent Advisor Alliance lifted its position in Edison International by 4.0% during the second quarter. Independent Advisor Alliance now owns 4,446 shares of the utilities provider’s stock worth $309,000 after buying an additional 169 shares during the period. Finally, MML Investors Services LLC lifted its position in Edison International by 0.4% during the first quarter. MML Investors Services LLC now owns 44,495 shares of the utilities provider’s stock worth $3,141,000 after buying an additional 180 shares during the period. 88.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EIX has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Edison International from $52.00 to $53.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 21st. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. Mizuho dropped their price target on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Barclays dropped their price target on Edison International from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Monday, January 22nd. Finally, Evercore ISI upgraded Edison International from an “in-line” rating to an “outperform” rating and dropped their price target for the stock from $74.00 to $68.00 in a research note on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $72.91.

View Our Latest Analysis on EIX

Edison International Price Performance

EIX stock opened at $64.70 on Monday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.75 and a current ratio of 0.80. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92. The firm has a market cap of $24.82 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 3.50 and a beta of 0.97. The stock has a 50-day simple moving average of $69.05 and a 200-day simple moving average of $67.61.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a yield of 4.82%. This is an increase from Edison International’s previous quarterly dividend of $0.74. Edison International’s dividend payout ratio is currently 97.20%.

Edison International Profile

(Free Report)

Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.

See Also

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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