Edison International (EIX) Stake Raised by Guardian Life Insurance Co. of America

Guardian Life Insurance Co. of America raised its position in Edison International (NYSE:EIX) by 0.6% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,256 shares of the utilities provider’s stock after buying an additional 8 shares during the period. Guardian Life Insurance Co. of America’s holdings in Edison International were worth $100,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Commerzbank Aktiengesellschaft FI acquired a new stake in Edison International during the fourth quarter worth $363,000. Raymond James Financial Services Advisors Inc. boosted its stake in Edison International by 1.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,172 shares of the utilities provider’s stock worth $1,524,000 after buying an additional 323 shares during the last quarter. Van ECK Associates Corp boosted its stake in Edison International by 24.6% in the fourth quarter. Van ECK Associates Corp now owns 2,387 shares of the utilities provider’s stock worth $172,000 after buying an additional 472 shares during the last quarter. Private Advisor Group LLC boosted its stake in Edison International by 11.7% in the fourth quarter. Private Advisor Group LLC now owns 4,340 shares of the utilities provider’s stock worth $313,000 after buying an additional 455 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Edison International by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 573,347 shares of the utilities provider’s stock worth $41,277,000 after buying an additional 12,022 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Edison International (NYSE:EIX)

Edison International (NYSE EIX) traded up 0.15% during trading on Tuesday, hitting $82.02. The company’s stock had a trading volume of 326,610 shares. Edison International has a one year low of $67.44 and a one year high of $82.82. The company has a 50-day moving average of $80.04 and a 200 day moving average of $76.83. The firm has a market cap of $26.72 billion, a PE ratio of 19.43 and a beta of 0.23.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.21. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.71 billion. Edison International had a net margin of 12.82% and a return on equity of 10.78%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, equities analysts forecast that Edison International will post $4.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be given a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Wednesday, June 28th. Edison International’s dividend payout ratio is presently 50.94%.

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EIX has been the subject of a number of research analyst reports. Mizuho restated a “buy” rating and issued a $91.50 target price on shares of Edison International in a research note on Wednesday, April 19th. Royal Bank Of Canada restated a “buy” rating and issued a $84.00 target price on shares of Edison International in a research note on Friday, February 24th. Barclays PLC restated an “equal weight” rating and issued a $84.00 target price (up previously from $78.00) on shares of Edison International in a research note on Sunday, April 23rd. Jefferies Group LLC restated a “hold” rating and issued a $83.00 target price (up previously from $80.00) on shares of Edison International in a research note on Tuesday, May 2nd. Finally, Deutsche Bank AG raised their target price on Edison International from $79.00 to $81.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Eight research 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 a consensus target price of $82.41.

In other news, Director W Brett White sold 2,500 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $81.67, for a total value of $204,175.00. Following the sale, the director now owns 2,500 shares of the company’s stock, valued at $204,175. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ronald L. Litzinger sold 26,035 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $78.85, for a total transaction of $2,052,859.75. The disclosure for this sale can be found here. In the last three months, insiders sold 34,692 shares of company stock worth $2,752,845. 0.41% of the stock is currently owned by insiders.

About Edison International

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “EIX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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