Sequoia Financial Advisors LLC Lowers Stock Holdings in Edison International (NYSE:EIX)

Sequoia Financial Advisors LLC lowered its holdings in Edison International (NYSE:EIXFree Report) by 32.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,118 shares of the utilities provider’s stock after selling 3,465 shares during the period. Sequoia Financial Advisors LLC’s holdings in Edison International were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Research Global Investors grew its position in shares of Edison International by 23.0% in the fourth quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock valued at $1,429,769,000 after purchasing an additional 3,734,550 shares during the period. Wellington Management Group LLP boosted its holdings in Edison International by 4.4% in the fourth quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock valued at $734,632,000 after acquiring an additional 433,845 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Edison International by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock valued at $376,166,000 after acquiring an additional 202,541 shares during the last quarter. Deutsche Bank AG boosted its holdings in Edison International by 266.3% in the third quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider’s stock valued at $272,725,000 after acquiring an additional 3,132,877 shares during the last quarter. Finally, Norges Bank acquired a new position in Edison International in the fourth quarter valued at $210,327,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 0.8 %

NYSE:EIX opened at $72.40 on Monday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00. Edison International has a one year low of $58.82 and a one year high of $77.04. The business’s 50-day simple moving average is $73.56 and its 200 day simple moving average is $70.53. The stock has a market cap of $27.86 billion, a price-to-earnings ratio of 31.75 and a beta of 0.91.

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

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.31%. The ex-dividend date is Monday, July 8th. Edison International’s dividend payout ratio is currently 136.84%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EIX. Argus lifted their target price on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Barclays lifted their target price on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Mizuho lifted their target price on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. Morgan Stanley reduced their price objective on Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. Finally, The Goldman Sachs Group began coverage on Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $77.40.

Get Our Latest Stock Report on EIX

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO J Andrew Murphy sold 9,794 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was 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 directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The disclosure for this sale can be found here. Insiders sold a total of 77,897 shares of company stock valued at $5,851,245 over the last three months. 1.20% of the stock is owned by insiders.

About Edison International

(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.

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

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