American International Group Inc. Has $7.18 Million Stock Position in Edison International (NYSE:EIX)

American International Group Inc. reduced its stake in shares of Edison International (NYSE:EIXFree Report) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 100,465 shares of the utilities provider’s stock after selling 911 shares during the period. American International Group Inc.’s holdings in Edison International were worth $7,182,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new position in Edison International during the fourth quarter worth $27,000. WASHINGTON TRUST Co increased its holdings in Edison International by 117.4% during the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after buying an additional 270 shares during the last quarter. Northwest Financial Advisors acquired a new position in Edison International during the fourth quarter worth $40,000. GAMMA Investing LLC bought a new position in Edison International during the fourth quarter worth $48,000. Finally, CVA Family Office LLC bought a new position in Edison International during the fourth quarter worth $53,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EIX has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of Edison International from $58.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. Wells Fargo & Company raised shares of Edison International from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $86.00 in a research report on Tuesday, May 14th. The Goldman Sachs Group initiated coverage on shares of Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective for the company. TheStreet cut shares of Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Finally, StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $77.22.

View Our Latest Analysis on Edison International

Insider Transactions at Edison International

In other news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 9,794 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,897 shares of company stock valued at $5,851,245. 1.20% of the stock is currently owned by insiders.

Edison International Trading Down 0.2 %

Shares of Edison International stock opened at $73.85 on Tuesday. The company has a market capitalization of $28.41 billion, a price-to-earnings ratio of 32.39 and a beta of 0.95. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. Edison International has a 12-month low of $58.82 and a 12-month high of $77.04. The firm’s 50-day moving average price is $72.60 and its two-hundred day moving average price is $69.97.

Edison International (NYSE:EIXGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. On average, analysts forecast that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Profile

(Free Report)

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.

Further Reading

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

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