abrdn plc Buys 885,955 Shares of Edison International (NYSE:EIX)

abrdn plc raised its holdings in Edison International (NYSE:EIX) by 166.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,418,526 shares of the utilities provider’s stock after buying an additional 885,955 shares during the quarter. abrdn plc’s holdings in Edison International were worth $123,149,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC lifted its stake in Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after buying an additional 124 shares during the period. Baker Tilly Wealth Management LLC lifted its stake in Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after buying an additional 129 shares during the period. SFE Investment Counsel lifted its stake in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after buying an additional 130 shares during the period. Equitable Trust Co. lifted its stake in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after buying an additional 132 shares during the period. Finally, TIAA Trust National Association lifted its stake in Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after buying an additional 134 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EIX has been the topic of several recent analyst reports. Argus boosted their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley upped their target price on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company upped their target price on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Guggenheim upped their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Edison International has an average rating of “Moderate Buy” and an average target price of $87.55.

Edison International Trading Up 0.7 %

Shares of Edison International stock opened at $84.48 on Tuesday. The stock has a fifty day simple moving average of $85.54 and a 200 day simple moving average of $78.48. Edison International has a 12-month low of $62.09 and a 12-month high of $88.77. The company has a market capitalization of $32.62 billion, a P/E ratio of 33.93, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a dividend of $0.78 per share. The ex-dividend date is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.69%. Edison International’s dividend payout ratio (DPR) is currently 125.30%.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,104 shares of company stock worth $4,949,264 in the last quarter. 1.20% of the stock is currently owned by company insiders.

About Edison International

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.