Commerzbank Aktiengesellschaft FI Decreases Position in Edison International (EIX)
Commerzbank Aktiengesellschaft FI trimmed its holdings in Edison International (NYSE:EIX) by 60.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,078 shares of the utilities provider’s stock after selling 4,751 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Edison International were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Cipher Capital LP bought a new position in shares of Edison International in the 2nd quarter worth about $3,600,000. Delta Lloyd Asset Management N.V. bought a new stake in Edison International during the 2nd quarter valued at about $5,675,000. Swiss National Bank increased its stake in Edison International by 14.2% during the 2nd quarter. Swiss National Bank now owns 1,318,064 shares of the utilities provider’s stock valued at $103,059,000 after purchasing an additional 163,600 shares in the last quarter. Sentry Investments Corp. increased its stake in Edison International by 16.7% during the 2nd quarter. Sentry Investments Corp. now owns 103,300 shares of the utilities provider’s stock valued at $8,077,000 after purchasing an additional 14,800 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Edison International by 1.9% during the 2nd quarter. Principal Financial Group Inc. now owns 655,277 shares of the utilities provider’s stock valued at $51,236,000 after purchasing an additional 12,086 shares in the last quarter. Institutional investors own 81.56% of the company’s stock.
A number of analysts have weighed in on EIX shares. BidaskClub lowered shares of Edison International from a “hold” rating to a “sell” rating in a research note on Sunday, June 25th. Zacks Investment Research lowered shares of Edison International from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Morgan Stanley restated an “equal weight” rating on shares of Edison International in a research note on Tuesday, July 11th. Jefferies Group LLC upgraded shares of Edison International from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $90.00 in a research note on Friday, August 11th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price target on shares of Edison International in a research note 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 company. The company presently has an average rating of “Hold” and an average target price of $84.15.
In other news, insider Ronald L. Litzinger sold 224,715 shares of the 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 in the company, valued at approximately $1,137,305.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company’s stock.
Edison International (EIX) opened at 80.74 on Wednesday. The firm’s 50-day moving average is $79.70 and its 200 day moving average is $79.60. Edison International has a one year low of $67.44 and a one year high of $82.82. The stock has a market cap of $26.31 billion, a P/E ratio of 19.09 and a beta of 0.24.
Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts anticipate that Edison International will post $4.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders 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 dividend yield of 2.69%. Edison International’s dividend payout ratio (DPR) is 50.82%.
Edison International 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.
Receive News & Stock Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related stocks with our FREE daily email newsletter.