Fifth Third Wealth Advisors LLC Invests $355,000 in Edison International (NYSE:EIX)

Fifth Third Wealth Advisors LLC purchased a new stake in Edison International (NYSE:EIX) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,940 shares of the utilities provider’s stock, valued at approximately $355,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Able Wealth Management LLC bought a new stake in shares of Edison International in the 4th quarter valued at approximately $25,000. Global Trust Asset Management LLC bought a new position in Edison International in the first quarter worth approximately $28,000. Country Trust Bank purchased a new position in shares of Edison International during the second quarter valued at $29,000. OFI Invest Asset Management purchased a new position in Edison International during the 2nd quarter valued at about $32,000. Finally, Northwest Financial Advisors purchased a new position in Edison International during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Activity

In related news, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,575,159.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,575,159.20. The disclosure for this sale can be found here. Insiders sold a total of 73,845 shares of company stock valued at $5,823,662 in the last three months. 1.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore ISI upped their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Wells Fargo & Company raised their price objective on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Argus boosted their target price on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Morgan Stanley lowered their price target on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. Finally, Mizuho increased their price objective on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $80.09.

Edison International Stock Performance

Shares of Edison International stock traded up $0.48 during trading on Wednesday, hitting $84.19. 1,090,967 shares of the company’s stock were exchanged, compared to its average volume of 2,038,307. The stock has a market capitalization of $32.51 billion, a price-to-earnings ratio of 36.93 and a beta of 0.91. The business has a 50-day simple moving average of $76.35 and a 200-day simple moving average of $72.55. Edison International has a 52-week low of $58.82 and a 52-week high of $84.42. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the business posted $1.01 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, research analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.71%. Edison International’s payout ratio is 136.84%.

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.