Jane Street Group LLC lowered its stake in shares of Edison International (NYSE:EIX) by 20.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,213 shares of the utilities provider’s stock after selling 6,673 shares during the quarter. Jane Street Group LLC’s holdings in Edison International were worth $2,023,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of EIX. Amica Retiree Medical Trust bought a new stake in Edison International during the third quarter worth $138,000. Sun Life Financial INC lifted its stake in Edison International by 16,935.7% during the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock worth $186,000 after purchasing an additional 2,371 shares during the last quarter. OxFORD Asset Management LLP bought a new stake in Edison International during the second quarter worth $204,000. TCI Wealth Advisors Inc. lifted its stake in Edison International by 139.7% during the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 1,533 shares during the last quarter. Finally, Shelton Capital Management bought a new stake in Edison International during the second quarter worth $206,000. 81.36% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on EIX. SunTrust Banks restated a “buy” rating and set a $85.00 target price on shares of Edison International in a research note on Thursday. BidaskClub upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Citigroup upped their target price on Edison International from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. Royal Bank Of Canada restated a “buy” rating and set a $84.00 target price on shares of Edison International in a research note on Sunday, September 17th. Finally, Deutsche Bank cut their target price on Edison International to $78.00 and set a “hold” rating for the company in a research note on Wednesday, December 6th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $84.54.
Shares of Edison International (EIX) traded up $0.03 on Monday, hitting $71.80. The stock had a trading volume of 5,823,800 shares, compared to its average volume of 1,818,037. Edison International has a one year low of $67.80 and a one year high of $83.38. The company has a market cap of $23,386.76, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.60 and a beta of 0.23. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. Edison International’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.29 EPS. research analysts anticipate that Edison International will post 4.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a dividend of $0.605 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, December 28th. Edison International’s dividend payout ratio (DPR) is currently 48.98%.
In related news, insider Ronald L. Litzinger sold 224,718 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the completion of the transaction, the insider now directly owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.
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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.
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