Edison International (NYSE:EIX) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in Edison International (NYSE:EIX) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 747,901 shares of the utilities provider’s stock after selling 11,319 shares during the period. Rhumbline Advisers’ holdings in Edison International were worth $59,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EIX. AMF Tjanstepension AB grew its holdings in shares of Edison International by 9.8% in the 3rd quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock worth $23,662,000 after acquiring an additional 24,208 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Edison International by 597.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,858 shares of the utilities provider’s stock worth $336,000 after acquiring an additional 3,305 shares during the period. Creative Planning grew its holdings in shares of Edison International by 6.4% in the 3rd quarter. Creative Planning now owns 50,962 shares of the utilities provider’s stock worth $4,438,000 after acquiring an additional 3,078 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Edison International by 1.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,822 shares of the utilities provider’s stock worth $3,468,000 after acquiring an additional 691 shares during the period. Finally, Aaron Wealth Advisors LLC acquired a new stake in shares of Edison International in the 3rd quarter worth approximately $296,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Down 2.7 %

Shares of EIX opened at $50.11 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $19.40 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90. The stock’s fifty day simple moving average is $67.14 and its 200 day simple moving average is $78.53. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a $0.8275 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 6.61%. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is 97.07%.

Analysts Set New Price Targets

A number of research firms recently issued reports on EIX. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Barclays reduced their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.39.

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.