Thrivent Financial For Lutherans lifted its position in Edison International (NYSE:EIX) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,705 shares of the utilities provider’s stock after acquiring an additional 350 shares during the period. Thrivent Financial For Lutherans’ holdings in Edison International were worth $993,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America increased its position in shares of Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 8 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Edison International by 41.7% during the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock worth $198,000 after purchasing an additional 741 shares during the period. Bailard Inc. acquired a new stake in shares of Edison International during the first quarter worth approximately $201,000. Great Lakes Advisors LLC acquired a new stake in shares of Edison International during the second quarter worth approximately $207,000. Finally, HL Financial Services LLC boosted its holdings in shares of Edison International by 2.7% during the second quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock worth $210,000 after purchasing an additional 70 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.
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In other news, insider Ronald L. Litzinger sold 224,715 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the completion of the sale, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,137,305.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.
Several analysts recently commented on EIX shares. BidaskClub cut shares of Edison International from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Thursday, July 6th. Morgan Stanley restated an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. Jefferies Group LLC restated a “hold” rating on shares of Edison International in a report on Friday, July 14th. Finally, Citigroup Inc. restated a “neutral” rating and set a $84.00 price target (down from $85.00) on shares of Edison International in a report on Monday, July 24th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Edison International currently has an average rating of “Hold” and an average price target of $84.83.
Shares of Edison International (NYSE:EIX) opened at 77.62 on Friday. The firm has a 50-day moving average of $79.51 and a 200-day moving average of $79.57. The firm has a market capitalization of $25.29 billion, a PE ratio of 18.35 and a beta of 0.22. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82.
Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. On average, equities research analysts anticipate that Edison International will post $4.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, September 28th. Edison International’s payout ratio is presently 50.82%.
Edison International Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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