Spirit of America Management Corp NY Acquires 3,758 Shares of Edison International (NYSE:EIX)

Spirit of America Management Corp NY grew its holdings in Edison International (NYSE:EIX) by 38.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,458 shares of the utilities provider’s stock after acquiring an additional 3,758 shares during the period. Spirit of America Management Corp NY’s holdings in Edison International were worth $1,074,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EIX. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Edison International by 8.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,126 shares of the utilities provider’s stock worth $727,000 after buying an additional 816 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Edison International during the 2nd quarter worth $2,003,000. AMF Tjanstepension AB boosted its holdings in shares of Edison International by 9.8% during the 3rd quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock worth $23,662,000 after buying an additional 24,208 shares during the period. Park Avenue Securities LLC bought a new stake in shares of Edison International during the 3rd quarter worth $236,000. Finally, Handelsbanken Fonder AB bought a new stake in shares of Edison International during the 3rd quarter worth $2,137,000. 88.95% of the stock is owned by institutional investors.

Edison International Trading Down 1.4 %

Shares of EIX stock opened at $51.68 on Wednesday. Edison International has a 52-week low of $51.58 and a 52-week high of $88.77. The stock has a market cap of $20.01 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 1.11 and a beta of 0.90. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a fifty day moving average of $73.45 and a 200-day moving average of $80.16.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were issued a $0.8275 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.40%. Edison International’s dividend payout ratio is presently 97.07%.

Analyst Ratings Changes

Several research firms recently issued reports on EIX. Jefferies Financial Group began coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. UBS Group cut their target price on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research note on Wednesday, January 15th. Finally, Morgan Stanley cut their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and an average target price of $82.88.

Edison International Company Profile

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.