Sei Investments Co. Cuts Holdings in Edison International (NYSE:EIX)

Sei Investments Co. lessened its stake in Edison International (NYSE:EIX) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 391,048 shares of the utilities provider’s stock after selling 7,610 shares during the quarter. Sei Investments Co. owned 0.10% of Edison International worth $31,223,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Swedbank AB grew its holdings in Edison International by 3.3% during the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after acquiring an additional 16,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Edison International during the 4th quarter worth $235,000. KBC Group NV grew its stake in shares of Edison International by 23.7% during the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after purchasing an additional 11,764 shares in the last quarter. abrdn plc increased its holdings in Edison International by 19.5% in the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after buying an additional 276,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Edison International by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after buying an additional 76,654 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EIX. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research note on Wednesday, January 15th. Morgan Stanley upped their target price on shares of Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company dropped their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.82.

Edison International Price Performance

EIX stock opened at $57.18 on Wednesday. The firm has a 50 day moving average of $55.24 and a 200-day moving average of $72.99. The company has a market cap of $22.02 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.07 and a beta of 0.87. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. As a group, equities analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.79%. Edison International’s dividend payout ratio is currently 100.30%.

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.