Edison International (NYSE:EIX) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in Edison International (NYSE:EIX) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 519,330 shares of the utilities provider’s stock after buying an additional 29,554 shares during the period. Victory Capital Management Inc. owned about 0.13% of Edison International worth $45,228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. First Heartland Consultants Inc. acquired a new stake in Edison International in the third quarter valued at $212,000. Aigen Investment Management LP increased its position in shares of Edison International by 46.9% during the third quarter. Aigen Investment Management LP now owns 21,086 shares of the utilities provider’s stock worth $1,836,000 after purchasing an additional 6,733 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in shares of Edison International by 23.7% during the third quarter. Prime Capital Investment Advisors LLC now owns 15,968 shares of the utilities provider’s stock worth $1,391,000 after purchasing an additional 3,060 shares in the last quarter. Platform Technology Partners acquired a new stake in shares of Edison International during the third quarter worth about $212,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Edison International by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 932,866 shares of the utilities provider’s stock worth $81,243,000 after purchasing an additional 8,586 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EIX shares. Guggenheim lifted 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. Argus lifted their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. UBS Group boosted their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada boosted their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Price Performance

Shares of EIX opened at $83.67 on Friday. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The stock’s 50 day moving average is $84.61 and its two-hundred day moving average is $79.51. The firm has a market capitalization of $32.39 billion, a PE ratio of 24.37, a P/E/G ratio of 1.96 and a beta of 0.92. 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 announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the company earned $1.38 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. This represents a 54.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. Insiders have sold a total of 50,878 shares of company stock worth $4,285,422 in the last quarter. Company insiders own 1.03% of the company’s stock.

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.