Allianz Asset Management GmbH Grows Holdings in Edison International $EIX

Allianz Asset Management GmbH boosted its position in Edison International (NYSE:EIX) by 71.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,425,926 shares of the utilities provider’s stock after acquiring an additional 1,009,508 shares during the quarter. Allianz Asset Management GmbH owned 0.63% of Edison International worth $134,105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in shares of Edison International by 112.9% in the 1st quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock valued at $577,000 after acquiring an additional 5,190 shares during the last quarter. Empowered Funds LLC increased its stake in Edison International by 2.4% in the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after purchasing an additional 211 shares during the period. Woodline Partners LP lifted its position in Edison International by 40.7% in the first quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock valued at $1,927,000 after purchasing an additional 9,459 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Edison International by 153.6% in the second quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 5,290 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in shares of Edison International by 4.5% during the second quarter. Truist Financial Corp now owns 35,252 shares of the utilities provider’s stock valued at $1,819,000 after purchasing an additional 1,521 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on EIX shares. Barclays dropped their target price on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. LADENBURG THALM/SH SH lifted their price objective on Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Wells Fargo & Company cut Edison International from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $56.00 to $59.00 in a research note on Tuesday, January 20th. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a research note on Thursday, January 15th. Finally, TD Cowen assumed coverage on shares of Edison International in a report on Thursday, October 16th. They issued a “buy” rating and a $71.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.30.

Edison International Trading Up 1.1%

Edison International stock opened at $61.44 on Wednesday. Edison International has a 52-week low of $47.73 and a 52-week high of $63.19. The company has a market cap of $23.64 billion, a P/E ratio of 8.03, a P/E/G ratio of 0.89 and a beta of 0.82. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The business has a 50-day simple moving average of $59.89 and a two-hundred day simple moving average of $57.03.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were issued a dividend of $0.8775 per share. 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 yield of 5.7%. The ex-dividend date of this dividend was Wednesday, January 7th. Edison International’s dividend payout ratio is currently 45.88%.

Edison International Company 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.