Russell Investments Group Ltd. Has $96.64 Million Holdings in Edison International (NYSE:EIX)

Russell Investments Group Ltd. lifted its position in Edison International (NYSE:EIX) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,210,887 shares of the utilities provider’s stock after purchasing an additional 112,588 shares during the quarter. Russell Investments Group Ltd. owned 0.31% of Edison International worth $96,639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Edison International during the 4th quarter valued at about $323,443,000. Vanguard Group Inc. lifted its stake in Edison International by 3.3% during the fourth 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 period. Raymond James Financial Inc. acquired a new stake in Edison International during the fourth quarter valued at approximately $39,344,000. National Bank of Canada FI grew its stake in shares of Edison International by 207.9% in the 4th quarter. National Bank of Canada FI now owns 698,939 shares of the utilities provider’s stock valued at $55,807,000 after purchasing an additional 471,968 shares during the period. Finally, AustralianSuper Pty Ltd acquired a new position in shares of Edison International in the 4th quarter worth approximately $31,877,000. 88.95% of the stock is owned by institutional investors.

Edison International Stock Down 6.3 %

Shares of NYSE:EIX opened at $54.71 on Friday. 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 stock has a market cap of $21.06 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.07 and a beta of 0.87. The company has a 50 day moving average of $54.84 and a 200-day moving average of $71.55. Edison International has a one year low of $49.06 and a one year high of $88.77.

Edison International (NYSE:EIX) last released 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 for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. On average, sell-side analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

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 issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is currently 100.30%.

Analyst Ratings Changes

A number of analysts have weighed in on EIX shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a 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 target for the company in a report on Wednesday, January 15th. The Goldman Sachs Group decreased their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Mizuho cut their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

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.