Dai ichi Life Insurance Company Ltd Takes $1.09 Million Position in Edison International (NYSE:EIX)

Dai ichi Life Insurance Company Ltd bought a new stake in Edison International (NYSE:EIX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,480 shares of the utilities provider’s stock, valued at approximately $1,087,000.

A number of other hedge funds also recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Edison International by 2.3% in the third quarter. The Manufacturers Life Insurance Company now owns 236,040 shares of the utilities provider’s stock valued at $20,557,000 after purchasing an additional 5,285 shares in the last quarter. Qsemble Capital Management LP purchased a new stake in shares of Edison International during the third quarter worth $279,000. Bank of Montreal Can raised its holdings in shares of Edison International by 3.4% during the third quarter. Bank of Montreal Can now owns 719,414 shares of the utilities provider’s stock worth $62,452,000 after acquiring an additional 23,794 shares in the last quarter. Associated Banc Corp purchased a new stake in shares of Edison International during the third quarter worth $219,000. Finally, Hancock Whitney Corp purchased a new stake in shares of Edison International during the third quarter worth $221,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on EIX. Barclays increased their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. UBS Group increased their price objective on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Bank of America started coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Morgan Stanley lowered their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, Evercore ISI increased their target price on shares of 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, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Up 0.7 %

EIX stock opened at $88.39 on Thursday. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The company has a market cap of $34.22 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92. The business’s 50-day simple moving average is $84.76 and its 200 day simple moving average is $80.41. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping 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 business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the business earned $1.38 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by company insiders.

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.