Sentry Investments Corp. Has $8.08 Million Stake in Edison International (EIX)
Sentry Investments Corp. increased its stake in Edison International (NYSE:EIX) by 16.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,300 shares of the utilities provider’s stock after buying an additional 14,800 shares during the period. Sentry Investments Corp.’s holdings in Edison International were worth $8,077,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of EIX. Guardian Life Insurance Co. of America raised its position 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. Wayne Hummer Investments L.L.C. bought a new position in Edison International during the first quarter valued at about $200,000. Parallel Advisors LLC raised its position in Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after buying an additional 741 shares during the last quarter. Gofen & Glossberg LLC IL bought a new position in Edison International during the first quarter valued at about $201,000. Finally, Bailard Inc. bought a new position in Edison International during the first quarter valued at about $201,000. Institutional investors own 81.54% of the company’s stock.
Shares of Edison International (NYSE:EIX) opened at 79.96 on Friday. The firm has a 50-day moving average price of $79.33 and a 200 day moving average price of $79.41. The company has a market cap of $26.05 billion, a PE ratio of 18.91 and a beta of 0.24. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82.
Edison International (NYSE:EIX) last released its 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 return on equity of 10.58% and a net margin of 12.64%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. On average, equities analysts anticipate that Edison International will post $4.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a dividend of $0.5425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.17 annualized dividend and a yield of 2.71%. Edison International’s dividend payout ratio is currently 50.82%.
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Several research firms have recently issued reports on EIX. UBS AG lowered Edison International from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $82.00 to $80.00 in a research report on Wednesday, May 17th. Mizuho restated a “buy” rating and set a $87.00 target price (up from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. Morgan Stanley boosted their target price on Edison International from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Jefferies Group LLC upgraded Edison International from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $90.00 in a research report on Friday, August 11th. Finally, BMO Capital Markets restated a “buy” rating and set a $85.00 target price on shares of Edison International in a research report on Thursday, August 17th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $84.00.
In related news, insider Ronald L. Litzinger sold 224,715 shares of the firm’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 completion of the sale, the insider now owns 14,121 shares of the company’s stock, valued at $1,137,305.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gaddi H. Vasquez sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $81.30, for a total value of $203,250.00. Following the sale, the insider now directly owns 4,550 shares of the company’s stock, valued at approximately $369,915. The disclosure for this sale can be found here. Insiders have sold 229,715 shares of company stock valued at $18,505,971 in the last ninety days. 0.41% of the stock is currently owned by insiders.
About Edison International
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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