Chevy Chase Trust Holdings LLC Sells 3,718 Shares of Edison International (NYSE:EIX)

Chevy Chase Trust Holdings LLC cut its position in shares of Edison International (NYSE:EIX) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 203,359 shares of the utilities provider’s stock after selling 3,718 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Edison International were worth $16,236,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new position in shares of Edison International during the 3rd quarter worth about $26,000. Eastern Bank purchased a new position in shares of Edison International during the 3rd quarter worth about $27,000. Crews Bank & Trust purchased a new position in shares of Edison International during the 4th quarter worth about $25,000. Larson Financial Group LLC boosted its stake in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in shares of Edison International during the 3rd quarter worth about $32,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Trading Down 2.7 %

NYSE EIX opened at $50.11 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a market cap of $19.40 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90. The company has a 50 day moving average price of $67.14 and a 200 day moving average price of $78.53. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 6.61%. The ex-dividend date of this dividend was Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is 97.07%.

Analyst Ratings Changes

EIX has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday. Barclays lowered their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. Wells Fargo & Company boosted their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Edison International has a consensus rating of “Hold” and a consensus target price of $80.39.

Edison International Company 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.