Assetmark Inc. Buys 43,108 Shares of Edison International $EIX

Assetmark Inc. boosted its stake in shares of Edison International (NYSE:EIX) by 51.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,995 shares of the utilities provider’s stock after purchasing an additional 43,108 shares during the quarter. Assetmark Inc.’s holdings in Edison International were worth $7,020,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EIX. Jones Financial Companies Lllp raised its position in shares of Edison International by 112.9% during the first quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock valued at $577,000 after buying an additional 5,190 shares during the last quarter. Empowered Funds LLC increased its stake in Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 211 shares during the period. Woodline Partners LP raised its holdings in Edison International by 40.7% in the 1st quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock valued at $1,927,000 after acquiring an additional 9,459 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Edison International by 153.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 5,290 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Edison International by 27.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,829 shares of the utilities provider’s stock worth $610,000 after acquiring an additional 2,582 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Up 3.4%

Shares of EIX opened at $71.43 on Tuesday. 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 company has a market cap of $27.49 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.05 and a beta of 0.82. The stock has a fifty day moving average price of $61.45 and a two-hundred day moving average price of $57.96. Edison International has a 52-week low of $47.73 and a 52-week high of $71.61.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were given a dividend of $0.8775 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, January 7th. This represents a $3.51 annualized dividend and a yield of 4.9%. Edison International’s dividend payout ratio is currently 45.88%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EIX shares. Barclays lowered their price objective on Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Zacks Research lowered shares of Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. JPMorgan Chase & Co. raised their price objective on shares of Edison International from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. LADENBURG THALM/SH SH lifted their target price on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen cut shares of Edison International from a “buy” rating to a “hold” rating in a research note on Saturday. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.10.

About Edison International

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.