Cornercap Investment Counsel Inc. Has $1.18 Million Stock Position in Edison International (NYSE:EIX)

Cornercap Investment Counsel Inc. reduced its holdings in Edison International (NYSE:EIX) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 16,373 shares of the utilities provider’s stock after selling 265 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Edison International were worth $1,176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Forsta AP Fonden increased its position in Edison International by 82.8% in the 2nd quarter. Forsta AP Fonden now owns 165,400 shares of the utilities provider’s stock valued at $11,877,000 after acquiring an additional 74,900 shares during the period. Y.D. More Investments Ltd acquired a new position in Edison International in the 2nd quarter valued at approximately $105,000. American Century Companies Inc. increased its position in Edison International by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after acquiring an additional 67,089 shares during the period. AMJ Financial Wealth Management increased its position in Edison International by 6.3% in the 2nd quarter. AMJ Financial Wealth Management now owns 79,849 shares of the utilities provider’s stock valued at $5,734,000 after acquiring an additional 4,761 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Edison International by 5.3% during the second quarter. Daiwa Securities Group Inc. now owns 52,108 shares of the utilities provider’s stock worth $3,742,000 after buying an additional 2,609 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Up 0.4 %

NYSE:EIX opened at $84.60 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $32.67 billion, a price-to-earnings ratio of 37.11 and a beta of 0.91. The firm has a fifty day simple moving average of $80.80 and a two-hundred day simple moving average of $74.71. Edison International has a 12 month low of $58.82 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the company posted $1.01 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts expect that Edison International will post 4.96 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is 136.84%.

Insider Buying and Selling at Edison International

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the firm’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 transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,575,159.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,099 shares of company stock valued at $7,223,342. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EIX. Evercore ISI increased their price objective 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. UBS Group increased their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Mizuho increased their price objective on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Guggenheim increased their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Argus increased their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Edison International has an average rating of “Hold” and an average target price of $84.67.

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.