iA Global Asset Management Inc. Acquires Shares of 23,824 Edison International $EIX

iA Global Asset Management Inc. acquired a new stake in Edison International (NYSE:EIX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,824 shares of the utilities provider’s stock, valued at approximately $1,229,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Edison International by 1.0% in the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock valued at $2,892,003,000 after purchasing an additional 493,778 shares during the period. Invesco Ltd. raised its position in Edison International by 19.8% in the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock valued at $340,000,000 after purchasing an additional 953,897 shares during the period. JPMorgan Chase & Co. raised its position in Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock valued at $333,689,000 after purchasing an additional 2,987,318 shares during the period. AQR Capital Management LLC grew its stake in shares of Edison International by 190.5% during the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock valued at $319,169,000 after acquiring an additional 3,559,602 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Edison International by 38.3% during the first quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider’s stock worth $274,485,000 after acquiring an additional 1,289,062 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EIX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Wells Fargo & Company upgraded Edison International to a “hold” rating in a research note on Tuesday, October 28th. Barclays decreased their price target on Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Finally, Zacks Research upgraded Edison International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $64.30.

Insider Activity at Edison International

In other news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $55.27, for a total transaction of $99,486.00. Following the completion of the transaction, the director directly owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Edison International Stock Down 1.8%

NYSE:EIX opened at $54.41 on Tuesday. The firm has a market capitalization of $20.94 billion, a PE ratio of 7.11, a price-to-earnings-growth ratio of 0.83 and a beta of 0.80. The stock has a 50 day moving average of $55.44 and a 200-day moving average of $54.42. Edison International has a 52 week low of $47.73 and a 52 week high of $88.64. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.16 by $0.18. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The business’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were issued a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.1%. Edison International’s dividend payout ratio is 43.27%.

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.