Atomi Financial Group Inc. Acquires 562 Shares of Edison International (NYSE:EIX)

Atomi Financial Group Inc. increased its stake in Edison International (NYSE:EIX) by 16.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,085 shares of the utilities provider’s stock after purchasing an additional 562 shares during the quarter. Atomi Financial Group Inc.’s holdings in Edison International were worth $293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Research Global Investors grew its stake in shares of Edison International by 23.0% during the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock valued at $1,429,769,000 after acquiring an additional 3,734,550 shares during the period. Norges Bank purchased a new position in shares of Edison International during the 4th quarter valued at $210,327,000. M&G Plc bought a new position in Edison International in the 1st quarter worth $85,436,000. Capital International Investors boosted its holdings in Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after buying an additional 795,950 shares during the period. Finally, Morningstar Investment Services LLC increased its stake in Edison International by 98.1% in the 4th quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock worth $96,492,000 after buying an additional 667,273 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Edison International news, SVP Caroline Choi sold 10,004 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The disclosure for this sale can be found here. Insiders sold 99,103 shares of company stock valued at $7,981,345 in the last ninety days. Insiders own 1.03% of the company’s stock.

Edison International Price Performance

Shares of Edison International stock traded up $0.29 during trading hours on Wednesday, reaching $85.07. 194,145 shares of the company’s stock were exchanged, compared to its average volume of 1,978,457. The business has a fifty day moving average of $77.08 and a two-hundred day moving average of $73.01. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $32.73 billion, a P/E ratio of 37.19 and a beta of 0.91. Edison International has a 1 year low of $58.82 and a 1 year high of $85.96.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $1.01 EPS. As a group, research analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.67%. Edison International’s payout ratio is currently 136.84%.

Analysts Set New Price Targets

EIX has been the topic of a number of research analyst reports. Guggenheim boosted their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Mizuho increased their price objective on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. Barclays lifted their price target on Edison International from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Morgan Stanley raised their price objective on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Finally, Evercore ISI raised their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Edison International presently has an average rating of “Hold” and a consensus price target of $80.73.

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.