Empirical Finance LLC Purchases 277 Shares of Edison International (NYSE:EIX)

Empirical Finance LLC grew its position in Edison International (NYSE:EIX) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,095 shares of the utilities provider’s stock after purchasing an additional 277 shares during the quarter. Empirical Finance LLC’s holdings in Edison International were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CreativeOne Wealth LLC bought a new position in Edison International in the 1st quarter worth $230,000. Swedbank AB boosted its stake in shares of Edison International by 76.3% in the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after acquiring an additional 193,307 shares during the period. Intech Investment Management LLC grew its position in shares of Edison International by 44.9% during the first quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after purchasing an additional 14,346 shares in the last quarter. Janus Henderson Group PLC raised its stake in Edison International by 150.6% during the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock valued at $12,004,000 after purchasing an additional 102,000 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its holdings in Edison International by 165.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,309 shares of the utilities provider’s stock worth $800,000 after purchasing an additional 7,050 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EIX shares. Wells Fargo & Company increased their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Evercore ISI raised their price objective on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Argus lifted their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, UBS Group increased their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and an average target price of $88.75.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’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 transaction of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,878 shares of company stock worth $4,285,422. Insiders own 1.03% of the company’s stock.

Edison International Price Performance

NYSE:EIX opened at $83.68 on Friday. The firm has a market capitalization of $32.40 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.00 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business has a 50 day simple moving average of $84.55 and a 200-day simple moving average of $79.66. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) 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 company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the company earned $1.38 earnings per share. Edison International’s revenue was up 10.6% on a year-over-year basis. Equities analysts forecast that Edison International will post 4.95 EPS 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 paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.73%. Edison International’s dividend payout ratio is presently 91.50%.

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.