Edison International (NYSE:EIX) Shares Sold by Achmea Investment Management B.V.

Achmea Investment Management B.V. trimmed its position in Edison International (NYSE:EIX) by 64.2% in the first quarter, HoldingsChannel.com reports. The firm owned 50,629 shares of the utilities provider’s stock after selling 90,946 shares during the quarter. Achmea Investment Management B.V.’s holdings in Edison International were worth $2,984,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position 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 worth $192,955,000 after purchasing an additional 76,654 shares during the period. Tounjian Advisory Partners LLC acquired a new stake in Edison International in the first quarter worth approximately $1,151,000. GAMMA Investing LLC lifted its position in Edison International by 4,157.4% in the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider’s stock worth $8,554,000 after purchasing an additional 141,769 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Edison International by 135.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider’s stock worth $7,297,000 after purchasing an additional 71,159 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Edison International in the fourth quarter worth approximately $6,859,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Up 0.3%

NYSE EIX opened at $50.94 on Friday. Edison International has a twelve month low of $47.73 and a twelve month high of $88.77. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.89 and a current ratio of 0.96. The stock has a market cap of $19.60 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 1.19 and a beta of 0.78. The firm’s 50 day moving average price is $54.41 and its two-hundred day moving average price is $58.68.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.16. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the previous year, the company posted $1.13 EPS. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. Equities analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 6.50%. The ex-dividend date is Monday, July 7th. Edison International’s dividend payout ratio is currently 46.95%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EIX shares. Morgan Stanley dropped their price target on Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a report on Wednesday, June 18th. Mizuho dropped their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group dropped their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Barclays upped their price target on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given 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 $76.82.

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.