Royal London Asset Management Ltd. Trims Stock Position in Edison International (NYSE:EIX)

Royal London Asset Management Ltd. lessened its position in shares of Edison International (NYSE:EIX) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 397,705 shares of the utilities provider’s stock after selling 4,123 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Edison International were worth $34,636,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EIX. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Edison International in the 3rd quarter valued at approximately $1,387,000. Swedbank AB increased its holdings in Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after purchasing an additional 193,307 shares during the last quarter. Baker Avenue Asset Management LP acquired a new stake in Edison International in the 3rd quarter valued at approximately $2,291,000. Bank of Montreal Can increased its holdings in Edison International by 5.3% in the 2nd quarter. Bank of Montreal Can now owns 695,620 shares of the utilities provider’s stock valued at $50,022,000 after purchasing an additional 34,701 shares during the last quarter. Finally, TIAA Trust National Association increased its holdings in Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.03% of the company’s stock.

Edison International Price Performance

Shares of EIX opened at $84.93 on Friday. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The stock has a market cap of $32.88 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 2.03 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a fifty day moving average price of $84.81 and a 200 day moving average price of $80.81.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the prior year, the company earned $1.38 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Edison International will post 4.94 EPS for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.67%. Edison International’s payout ratio is 91.50%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EIX. Barclays lifted their target price on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley dropped their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Evercore ISI boosted their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, UBS Group boosted their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International 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.