Allstate Corp Takes Position in Edison International $EIX

Allstate Corp acquired a new stake in Edison International (NYSE:EIX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,084 shares of the utilities provider’s stock, valued at approximately $779,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. American National Bank & Trust bought a new stake in shares of Edison International in the 2nd quarter valued at about $32,000. Laurel Wealth Advisors LLC increased its holdings in Edison International by 5,064.3% during the second quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after buying an additional 709 shares during the period. CoreFirst Bank & Trust purchased a new position in Edison International during the second quarter valued at approximately $38,000. Quent Capital LLC bought a new position in Edison International in the third quarter worth approximately $40,000. Finally, Hilltop National Bank purchased a new stake in Edison International during the second quarter worth $44,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Edison International

In other news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the sale, the director directly owned 35,212 shares of the company’s stock, valued at $1,946,167.24. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Edison International Price Performance

Shares of NYSE EIX opened at $60.72 on Friday. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $62.62. The company has a market cap of $23.36 billion, a PE ratio of 7.94, a P/E/G ratio of 0.88 and a beta of 0.83. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The business has a 50-day simple moving average of $59.35 and a two-hundred day simple moving average of $56.35.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.16 by $0.18. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.31 billion. Edison International had a net margin of 17.24% and a return on equity of 13.62%. Edison International’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $1.51 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. As a group, equities analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th will be issued a $0.8775 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, January 7th. Edison International’s dividend payout ratio is 45.88%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EIX shares. LADENBURG THALM/SH SH lifted their price target on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Jefferies Financial Group raised their price objective on Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Morgan Stanley reissued an “underweight” rating on shares of Edison International in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Edison International from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, December 12th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $63.70.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.