Plan Group Financial LLC Buys Shares of 4,113 Edison International (NYSE:EIX)

Plan Group Financial LLC purchased a new stake in Edison International (NYSE:EIX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,113 shares of the utilities provider’s stock, valued at approximately $358,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eastern Bank acquired a new position in shares of Edison International in the 3rd quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International in the 2nd quarter valued at $27,000. Country Trust Bank acquired a new position in shares of Edison International in the 2nd quarter valued at $29,000. Farmers & Merchants Investments Inc. grew its holdings in shares of Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares during the period. Finally, OFI Invest Asset Management acquired a new position in shares of Edison International in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EIX has been the subject of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Argus upped their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI upped their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. UBS Group upped their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Guggenheim upped their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.55.

Edison International Stock Up 1.4 %

Shares of EIX stock opened at $85.83 on Wednesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The firm’s 50-day moving average is $85.41 and its 200-day moving average is $78.05. The stock has a market cap of $33.15 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 1.98 and a beta of 0.91. Edison International has a 52-week low of $61.64 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. Sell-side analysts predict that Edison International will post 4.97 EPS for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be issued a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.64%. Edison International’s payout ratio is 125.30%.

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.