Edison International (EIX) Holdings Trimmed by ING Groep NV

ING Groep NV lessened its holdings in shares of Edison International (NYSE:EIX) by 31.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,371 shares of the utilities provider’s stock after selling 8,786 shares during the quarter. ING Groep NV’s holdings in Edison International were worth $1,225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors acquired a new stake in Edison International during the 3rd quarter valued at approximately $95,783,000. Steward Partners Investment Advisory LLC acquired a new stake in Edison International during the 3rd quarter valued at approximately $557,000. Magnetar Financial LLC acquired a new stake in Edison International during the 3rd quarter valued at approximately $256,000. Wells Fargo & Company MN grew its stake in Edison International by 30.3% during the 3rd quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock valued at $198,553,000 after purchasing an additional 598,402 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Edison International by 68.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 185,333 shares of the utilities provider’s stock valued at $14,302,000 after purchasing an additional 75,473 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

A number of brokerages have weighed in on EIX. SunTrust Banks set a $71.00 price objective on Edison International and gave the company a “buy” rating in a research note on Monday. UBS Group began coverage on Edison International in a research note on Friday, February 2nd. They set a “neutral” rating and a $67.00 price objective for the company. ValuEngine lowered Edison International from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Citigroup restated a “hold” rating and set a $66.00 price objective on shares of Edison International in a research note on Monday, January 22nd. Finally, Zacks Investment Research raised Edison International from a “sell” rating to a “hold” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $78.00.

In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.41% of the company’s stock.

Edison International (NYSE:EIX) opened at $60.06 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. Edison International has a 1-year low of $57.63 and a 1-year high of $83.38. The company has a market capitalization of $19,203.31, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 2.17 and a beta of 0.17.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th were issued a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Thursday, December 28th. This is an increase from Edison International’s previous quarterly dividend of $0.54. Edison International’s dividend payout ratio (DPR) is currently 54.63%.

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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.

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

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