Griffin Asset Management Inc. Has $1.74 Million Stock Position in Edison International (NYSE:EIX)

Griffin Asset Management Inc. cut its holdings in shares of Edison International (NYSE:EIX) by 3.7% in the 1st quarter, Holdings Channel reports. The firm owned 24,620 shares of the utilities provider’s stock after selling 940 shares during the period. Griffin Asset Management Inc.’s holdings in Edison International were worth $1,741,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Axxcess Wealth Management LLC boosted its stake in Edison International by 2.6% in the third quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock valued at $409,000 after buying an additional 164 shares in the last quarter. Gibraltar Capital Management Inc. boosted its stake in shares of Edison International by 1.5% in the 4th quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock valued at $829,000 after purchasing an additional 174 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Edison International by 0.3% during the 4th quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock valued at $4,379,000 after purchasing an additional 175 shares during the last quarter. Presima Securities ULC increased its position in Edison International by 2.4% during the 4th quarter. Presima Securities ULC now owns 8,650 shares of the utilities provider’s stock worth $618,000 after purchasing an additional 200 shares in the last quarter. Finally, ERTS Wealth Advisors LLC lifted its stake in Edison International by 5.4% in the 4th quarter. ERTS Wealth Advisors LLC now owns 4,023 shares of the utilities provider’s stock valued at $288,000 after purchasing an additional 207 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling

In other Edison International news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the transaction, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,475,876.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Caroline Choi sold 10,004 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,897 shares of company stock worth $5,851,245. 1.03% of the stock is owned by company insiders.

Edison International Stock Down 0.3 %

Shares of NYSE EIX traded down $0.23 during trading on Friday, hitting $71.81. The stock had a trading volume of 2,647,118 shares, compared to its average volume of 1,742,993. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The firm has a fifty day moving average of $73.45 and a two-hundred day moving average of $70.45. Edison International has a 12 month low of $58.82 and a 12 month high of $77.04. The company has a market capitalization of $27.63 billion, a PE ratio of 31.50 and a beta of 0.95.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the firm posted $1.09 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Monday, July 8th. Edison International’s payout ratio is 136.84%.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of research reports. Mizuho boosted their target price on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Royal Bank of Canada reduced their price objective on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. The Goldman Sachs Group started coverage on Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. Wells Fargo & Company raised Edison International from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $72.00 to $86.00 in a research note on Tuesday, May 14th. Finally, Barclays lifted their price objective on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $77.40.

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.