Schroder Investment Management Group Sells 11,433 Shares of Edison International (EIX)
Schroder Investment Management Group lessened its stake in shares of Edison International (NYSE:EIX) by 69.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,928 shares of the utilities provider’s stock after selling 11,433 shares during the quarter. Schroder Investment Management Group’s holdings in Edison International were worth $385,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Edison International by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 26,875,989 shares of the utilities provider’s stock worth $2,139,597,000 after purchasing an additional 1,239,752 shares in the last quarter. BlackRock Inc. boosted its stake in Edison International by 2,416.6% in the 1st quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock worth $1,941,622,000 after buying an additional 23,420,049 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Edison International by 3.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock worth $1,197,430,000 after buying an additional 526,261 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Edison International by 6.1% in the 1st quarter. Alliancebernstein L.P. now owns 5,733,802 shares of the utilities provider’s stock worth $456,468,000 after buying an additional 330,071 shares during the last quarter. Finally, Boston Partners boosted its stake in Edison International by 4.2% in the 2nd quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock worth $292,142,000 after buying an additional 151,153 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 14,121 shares of the company’s stock, valued at approximately $1,137,305.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.
A number of analysts have issued reports on the company. Jefferies Group LLC raised Edison International from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $90.00 in a research note on Friday, August 11th. Morgan Stanley raised their price target on Edison International from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. BMO Capital Markets reissued a “buy” rating and issued a $85.00 price target on shares of Edison International in a research note on Thursday, August 17th. Mizuho reissued a “buy” rating and issued a $87.00 price target (up from $84.00) on shares of Edison International in a research note on Wednesday, August 23rd. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $84.00 price target (down from $85.00) on shares of Edison International in a research note on Monday, July 24th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $84.17.
Edison International (NYSE:EIX) opened at 78.08 on Thursday. The stock has a 50 day moving average price of $80.05 and a 200 day moving average price of $79.66. The firm has a market capitalization of $25.44 billion, a price-to-earnings ratio of 18.46 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 issued its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share 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 company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the firm posted $0.85 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Analysts predict that Edison International will post $4.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, September 28th. Edison International’s payout ratio is currently 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.
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