Prudential Financial Inc. boosted its stake in shares of Edison International (NYSE:EIX) by 18.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 552,076 shares of the utilities provider’s stock after buying an additional 85,968 shares during the period. Prudential Financial Inc. owned about 0.17% of Edison International worth $43,167,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of EIX. Guardian Life Insurance Co. of America boosted its stake in 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 valued at $100,000 after buying an additional 8 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in Edison International by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock valued at $299,000 after buying an additional 12 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Edison International by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,945 shares of the utilities provider’s stock valued at $234,000 after buying an additional 17 shares during the last quarter. CENTRAL TRUST Co boosted its stake in Edison International by 0.7% in the second quarter. CENTRAL TRUST Co now owns 3,008 shares of the utilities provider’s stock valued at $235,000 after buying an additional 22 shares during the last quarter. Finally, Cleararc Capital Inc. boosted its stake in Edison International by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,944 shares of the utilities provider’s stock valued at $632,000 after buying an additional 42 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Edison International (NYSE:EIX) opened at 80.30 on Thursday. The company has a 50-day moving average of $78.84 and a 200-day moving average of $79.21. The stock has a market capitalization of $26.16 billion, a price-to-earnings ratio of 18.99 and a beta of 0.22. Edison International has a one year low of $67.44 and a one year high of $82.82.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Edison International had a net margin of 12.64% and a return on equity of 10.58%. 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 business posted $0.85 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. On average, equities analysts forecast that Edison International will post $4.24 EPS for the current fiscal 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 issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, September 28th. Edison International’s dividend payout ratio (DPR) is presently 50.82%.

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Several research firms have weighed in on EIX. BidaskClub raised Edison International from a “sell” rating to a “hold” rating in a research report on Monday, June 19th. UBS AG cut Edison International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $82.00 to $80.00 in a research report on Wednesday, May 17th. Citigroup Inc. reaffirmed a “neutral” rating and set a $84.00 price objective (down from $85.00) on shares of Edison International in a research report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $85.00 price objective on shares of Edison International in a research report on Sunday, July 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $85.00 price objective (up from $82.00) on shares of Edison International in a research report on Wednesday, May 3rd. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus 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 the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $81.30, for a total transaction of $203,250.00. Following the completion of the transaction, the insider now owns 4,550 shares in the company, valued at approximately $369,915. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the transaction, the insider now 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. Insiders have sold a total of 229,715 shares of company stock valued at $18,505,971 in the last quarter. 0.41% of the stock is currently owned by company 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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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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