TIAA CREF Investment Management LLC reduced its stake in Edison International (NYSE:EIX) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,250,742 shares of the utilities provider’s stock after selling 42,433 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.38% of Edison International worth $97,796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guardian Life Insurance Co. of America increased its holdings in Edison International by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 8 shares in the last quarter. Wayne Hummer Investments L.L.C. acquired a new stake in Edison International in the 1st quarter valued at $200,000. Parallel Advisors LLC increased its holdings in Edison International by 41.7% in the 1st quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 741 shares in the last quarter. Gofen & Glossberg LLC IL acquired a new stake in Edison International in the 1st quarter valued at $201,000. Finally, Bailard Inc. acquired a new stake in Edison International in the 1st quarter valued at $201,000. Hedge funds and other institutional investors own 81.56% of the company’s stock.

Edison International (NYSE EIX) opened at 81.20 on Friday. The company has a market cap of $26.46 billion, a PE ratio of 19.20 and a beta of 0.24. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82. The stock’s 50 day moving average is $79.95 and its 200 day moving average is $79.65.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (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 for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that Edison International will post $4.23 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued 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 dividend yield of 2.67%. Edison International’s payout ratio is 50.82%.

Several analysts recently issued reports on the company. Jefferies Group LLC upgraded Edison International from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $90.00 in a report on Friday, August 11th. Morgan Stanley increased their price target on Edison International from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Mizuho reiterated a “buy” rating and issued a $87.00 price target (up from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price target on shares of Edison International in a report on Thursday, August 17th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $84.00 price target (down from $85.00) on shares of Edison International in a report on Monday, July 24th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Edison International has a consensus rating of “Hold” and an average target price of $84.15.

In other news, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

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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.

Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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