GAM Holding AG Has $3.37 Million Stake in Edison International (EIX)
GAM Holding AG raised its stake in Edison International (NYSE:EIX) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,152 shares of the utilities provider’s stock after buying an additional 3,198 shares during the period. GAM Holding AG’s holdings in Edison International were worth $3,374,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Life Insurance Co. of America increased its stake in shares of Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock worth $100,000 after buying an additional 8 shares during the period. Jones Collombin Investment Counsel Inc increased its stake in shares of Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock worth $139,000 after buying an additional 715 shares during the period. Parallel Advisors LLC increased its stake in shares of Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock worth $198,000 after buying an additional 741 shares during the period. Wayne Hummer Investments L.L.C. bought a new stake in shares of Edison International during the first quarter worth $200,000. Finally, Gofen & Glossberg LLC IL bought a new stake in shares of Edison International during the first quarter worth $201,000. Institutional investors own 81.54% of the company’s stock.
Shares of Edison International (EIX) opened at 80.75 on Monday. The firm has a market cap of $26.31 billion, a PE ratio of 19.09 and a beta of 0.22. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82. The firm has a 50-day moving average of $78.84 and a 200 day moving average of $79.21.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, equities analysts predict that Edison International will post $4.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.5425 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a yield of 2.69%. Edison International’s dividend payout ratio is currently 50.82%.
A number of brokerages have weighed in on EIX. UBS AG downgraded shares of Edison International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $82.00 to $80.00 in a report on Wednesday, May 17th. Mizuho reaffirmed a “buy” rating and set a $87.00 price objective (up from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Morgan Stanley raised their price objective on shares of Edison International from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Jefferies Group LLC raised shares of Edison International from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $90.00 in a report on Friday, August 11th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price objective on shares of Edison International in a report on Thursday, August 17th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Edison International has an average rating of “Hold” and an average price target of $84.00.
In other Edison International news, insider Gaddi H. Vasquez sold 2,500 shares of Edison International stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $81.30, for a total transaction of $203,250.00. Following the completion of the sale, the insider now owns 4,550 shares of the company’s stock, valued at approximately $369,915. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ronald L. Litzinger sold 224,715 shares of Edison International stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the sale, the insider now directly owns 14,121 shares of the company’s stock, valued at approximately $1,137,305.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 229,715 shares of company stock valued at $18,505,971. 0.41% of the stock is currently owned by insiders.
Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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