Edison International (NYSE:EIX) Shares Purchased by Assetmark Inc.

Assetmark Inc. lifted its position in Edison International (NYSE:EIX) by 63.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,316 shares of the utilities provider’s stock after purchasing an additional 15,312 shares during the quarter. Assetmark Inc.’s holdings in Edison International were worth $2,316,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Edison International by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock valued at $795,123,000 after purchasing an additional 362,999 shares during the period. Northern Trust Corp boosted its position in shares of Edison International by 53.9% in the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock valued at $459,642,000 after purchasing an additional 2,016,017 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Edison International by 7.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider’s stock valued at $412,246,000 after purchasing an additional 371,043 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Edison International by 1.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider’s stock valued at $409,865,000 after purchasing an additional 50,451 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Edison International by 38.2% in the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider’s stock valued at $384,560,000 after purchasing an additional 1,331,941 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research analyst reports. Wolfe Research cut Edison International from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. Evercore ISI reaffirmed an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. Barclays increased their price objective on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Morgan Stanley decreased their price objective on Edison International from $52.00 to $51.00 and set an “underweight” rating for the company in a research report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. decreased their price objective on Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, May 19th. One investment 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.35.

Edison International Stock Performance

Shares of EIX stock opened at $52.46 on Wednesday. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 7.44, a price-to-earnings-growth ratio of 1.23 and a beta of 0.75. The stock has a 50 day simple moving average of $52.17 and a 200-day simple moving average of $54.62. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 EPS. On average, equities analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be issued a dividend of $0.8275 per share. The ex-dividend date is Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.31%. Edison International’s dividend payout ratio is presently 46.95%.

Edison International Company 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.