Tokio Marine Asset Management Co. Ltd. Cuts Holdings in Edison International (NYSE:EIX)

Tokio Marine Asset Management Co. Ltd. trimmed its holdings in shares of Edison International (NYSE:EIX) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,404 shares of the utilities provider’s stock after selling 419 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Edison International were worth $815,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new stake in Edison International during the 4th quarter valued at $27,000. WASHINGTON TRUST Co lifted its holdings in shares of Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after buying an additional 270 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Edison International by 144.4% during the 3rd quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after buying an additional 397 shares during the period. GAMMA Investing LLC bought a new position in shares of Edison International during the 4th quarter valued at $48,000. Finally, Authentikos Wealth Advisory LLC bought a new position in shares of Edison International during the 3rd quarter valued at $47,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EIX has been the topic of several research analyst reports. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating and increased their price target for the company from $66.00 to $84.00 in a report on Monday, January 22nd. Royal Bank of Canada lowered their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. The Goldman Sachs Group started coverage on Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target on the stock. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Finally, TheStreet cut Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.60.

Edison International Stock Performance

Shares of NYSE EIX opened at $70.16 on Friday. The company has a market cap of $26.99 billion, a P/E ratio of 22.49 and a beta of 0.96. Edison International has a 52-week low of $58.82 and a 52-week high of $74.92. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The firm’s fifty day moving average is $68.98 and its two-hundred day moving average is $67.70.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $4.19 billion. Edison International had a net margin of 8.35% and a return on equity of 12.63%. During the same quarter in the previous year, the company earned $1.14 EPS. As a group, analysts anticipate that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.45%. The ex-dividend date is Wednesday, March 27th. Edison International’s payout ratio is currently 100.00%.

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.