Edison International (NYSE:EIX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Edison International (NYSE:EIX) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 455,386 shares of the utilities provider’s stock after selling 3,808 shares during the quarter. Principal Financial Group Inc.’s holdings in Edison International were worth $36,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EIX. Crews Bank & Trust acquired a new position in Edison International in the fourth quarter valued at approximately $25,000. Highline Wealth Partners LLC purchased a new stake in Edison International in the third quarter valued at approximately $26,000. Groupama Asset Managment lifted its stake in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares during the last quarter. Eastern Bank purchased a new stake in Edison International in the third quarter valued at approximately $27,000. Finally, Larson Financial Group LLC lifted its stake in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EIX. Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Barclays reduced their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $69.00 to $65.00 in a research note on Tuesday. Morgan Stanley reduced their price objective on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, February 14th. Finally, Wells Fargo & Company boosted their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.11.

Edison International Trading Up 0.4 %

NYSE:EIX opened at $52.10 on Friday. The stock has a fifty day moving average price of $64.67 and a two-hundred day moving average price of $77.72. The stock has a market capitalization of $20.17 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.08 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. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were given a $0.8275 dividend. This is a boost 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 yield of 6.35%. Edison International’s dividend payout ratio is presently 97.07%.

Edison International 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.