Edison International (NYSE:EIX) Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its stake in Edison International (NYSE:EIX) by 4.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 496,604 shares of the utilities provider’s stock after selling 24,401 shares during the period. Citigroup Inc.’s holdings in Edison International were worth $43,249,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EIX. abrdn plc increased its holdings in shares of Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after buying an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Edison International by 117.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after purchasing an additional 422,752 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Edison International by 595.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after purchasing an additional 272,876 shares during the period. Renaissance Technologies LLC acquired a new stake in Edison International during the 2nd quarter valued at $18,484,000. Finally, Swedbank AB acquired a new stake in Edison International during the 1st quarter valued at $17,918,000. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Down 0.7 %

Shares of NYSE:EIX opened at $86.48 on Monday. The stock has a market capitalization of $33.48 billion, a PE ratio of 25.36, a P/E/G ratio of 2.08 and a beta of 0.92. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The firm has a fifty day moving average price of $84.64 and a 200 day moving average price of $80.17. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (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 company 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 quarterly revenue was up 10.6% compared to the same quarter last year. Analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 91.50%.

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Argus boosted their target price on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. UBS Group boosted their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Wells Fargo & Company boosted their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Finally, Royal Bank of Canada upped 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

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.