Legal & General Group Plc Invests $329.77 Million in Edison International $EIX

Legal & General Group Plc acquired a new position in shares of Edison International (NYSE:EIX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,429,359 shares of the utilities provider’s stock, valued at approximately $329,766,000. Legal & General Group Plc owned about 1.15% of Edison International as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Edison International in the 2nd quarter valued at approximately $26,000. Groupe la Francaise acquired a new stake in Edison International in the first quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Edison International during the second quarter worth $30,000. Bell Investment Advisors Inc bought a new stake in shares of Edison International during the second quarter worth $31,000. Finally, 10Elms LLP acquired a new position in shares of Edison International during the fourth quarter worth $26,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Price Performance

Shares of NYSE:EIX opened at $74.83 on Wednesday. The firm has a market cap of $28.79 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66. The firm’s fifty day moving average is $74.23 and its 200-day moving average is $72.22. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66. Edison International has a 52 week low of $52.00 and a 52 week high of $81.62.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.36. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.82 billion. Edison International had a return on equity of 15.53% and a net margin of 20.30%.Edison International’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Sell-side analysts predict that Edison International will post 6.13 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were paid a $0.8775 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $3.51 annualized dividend and a dividend yield of 4.7%. Edison International’s dividend payout ratio is presently 36.19%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EIX. Barclays reiterated an “equal weight” rating and issued a $75.00 price target (down from $78.00) on shares of Edison International in a research note on Friday, July 31st. Truist Financial lowered their target price on Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a report on Tuesday, August 4th. Morgan Stanley dropped their target price on Edison International from $69.00 to $65.00 and set an “underweight” rating for the company in a research report on Friday, August 21st. JPMorgan Chase & Co. lifted their price target on Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Finally, Mizuho boosted their price target on Edison International from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.45.

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.