Russell Investments Group Ltd. decreased its holdings in Edison International (NYSE:EIX) by 11.8% in the fourth quarter, Holdings Channel reports. The fund owned 351,089 shares of the utilities provider’s stock after selling 47,121 shares during the quarter. Russell Investments Group Ltd.’s holdings in Edison International were worth $21,863,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in EIX. Berman Capital Advisors LLC lifted its holdings in shares of Edison International by 68.3% in the 3rd quarter. Berman Capital Advisors LLC now owns 510 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 207 shares during the last quarter. Bellwether Advisors LLC bought a new stake in Edison International in the fourth quarter worth about $25,000. Hoover Financial Advisors Inc. bought a new stake in Edison International in the fourth quarter worth about $25,000. Paces Ferry Wealth Advisors LLC bought a new stake in Edison International in the third quarter worth about $26,000. Finally, NEXT Financial Group Inc bought a new stake in Edison International in the third quarter worth about $43,000. 87.58% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on EIX. KeyCorp raised their price objective on shares of Edison International from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 12th. Barclays raised their price objective on shares of Edison International from $57.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 18th. Morgan Stanley decreased their price objective on shares of Edison International from $69.00 to $66.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 20th. Finally, Wells Fargo & Company raised shares of Edison International from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $65.00 to $71.00 in a research note on Wednesday, January 6th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Edison International has a consensus rating of “Buy” and a consensus price target of $68.93.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, January 31st. Investors of record on Thursday, December 31st were issued a dividend of $0.6625 per share. This represents a $2.65 annualized dividend and a yield of 4.79%. This is a positive change from Edison International’s previous quarterly dividend of $0.64. The ex-dividend date was Wednesday, December 30th. Edison International’s dividend payout ratio (DPR) is presently 56.38%.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. The company generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. It supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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