Allianz SE Takes $829,000 Position in Edison International (NYSE:EIX)

Allianz SE bought a new stake in shares of Edison International (NYSE:EIX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,400 shares of the utilities provider’s stock, valued at approximately $829,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Edison International during the fourth quarter valued at $323,443,000. Vanguard Group Inc. raised its position in shares of Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Edison International in the 4th quarter valued at about $39,344,000. AustralianSuper Pty Ltd acquired a new stake in Edison International in the 4th quarter worth about $31,877,000. Finally, Victory Capital Management Inc. increased its stake in Edison International by 74.6% during the 4th quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock worth $72,379,000 after buying an additional 387,215 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

EIX has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. The Goldman Sachs Group dropped their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research note on Wednesday, January 15th. Finally, Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Stock Up 1.6 %

EIX stock opened at $58.20 on Monday. The firm has a market cap of $22.41 billion, a PE ratio of 17.07, a PEG ratio of 1.07 and a beta of 0.87. Edison International has a one year low of $49.06 and a one year high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm’s 50 day moving average price is $55.00 and its 200-day moving average price is $72.42.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, equities research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.69%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

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.