Axa Grows Stake in Edison International (EIX)
Axa grew its holdings in shares of Edison International (NYSE:EIX) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,701 shares of the utilities provider’s stock after purchasing an additional 400 shares during the quarter. Axa’s holdings in Edison International were worth $3,182,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guardian Life Insurance Co. of America increased its position in shares of Edison International by 0.6% during 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 during the last quarter. Wayne Hummer Investments L.L.C. purchased a new stake in shares of Edison International during the 1st quarter valued at about $200,000. Parallel Advisors LLC increased its position in shares of Edison International by 41.7% during 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 during the last quarter. Gofen & Glossberg LLC IL purchased a new stake in shares of Edison International during the 1st quarter valued at about $201,000. Finally, Bailard Inc. purchased a new stake in shares of Edison International during the 1st quarter valued at about $201,000. 81.53% of the stock is owned by hedge funds and other institutional investors.
EIX has been the subject of several analyst reports. BidaskClub lowered shares of Edison International from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Thursday, July 6th. Morgan Stanley reissued an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. Jefferies Group LLC reissued a “hold” rating on shares of Edison International in a report on Friday, July 14th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $84.00 target price (down from $85.00) on shares of Edison International in a report on Monday, July 24th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $84.15.
Shares of Edison International (NYSE:EIX) opened at 80.55 on Tuesday. The stock has a market capitalization of $26.24 billion, a price-to-earnings ratio of 19.05 and a beta of 0.24. The firm’s 50-day moving average is $80.02 and its 200-day moving average is $79.66. 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 data on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.85. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. Equities research analysts forecast that Edison International will post $4.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, September 28th. Edison International’s dividend payout ratio (DPR) is presently 50.82%.
In other news, 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 value of $18,098,546.10. Following the completion of the sale, the insider now directly owns 14,121 shares in the company, valued at $1,137,305.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is 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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