Advisor Group Holdings Inc. Acquires 32,274 Shares of Edison International (NYSE:EIX)

Advisor Group Holdings Inc. boosted its holdings in shares of Edison International (NYSE:EIXGet Rating) by 42.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,645 shares of the utilities provider’s stock after purchasing an additional 32,274 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Edison International were worth $7,631,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Godsey & Gibb Associates acquired a new position in shares of Edison International in the 1st quarter worth approximately $25,000. Prospera Financial Services Inc bought a new stake in Edison International during the 1st quarter worth approximately $27,000. First Personal Financial Services bought a new stake in Edison International during the 4th quarter worth approximately $26,000. CVA Family Office LLC grew its position in Edison International by 144.7% during the 1st quarter. CVA Family Office LLC now owns 465 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 275 shares during the last quarter. Finally, Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in Edison International during the 4th quarter worth approximately $32,000. Institutional investors own 87.89% of the company’s stock.

Edison International Trading Down 1.0 %

Shares of NYSE:EIX opened at $68.26 on Friday. Edison International has a 12-month low of $54.98 and a 12-month high of $73.32. The stock has a market cap of $26.04 billion, a PE ratio of 51.71, a P/E/G ratio of 5.28 and a beta of 0.68. The business has a 50 day moving average of $64.15 and a 200-day moving average of $65.48. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 1.60.

Edison International (NYSE:EIXGet Rating) last released its quarterly earnings results on Thursday, July 28th. The utilities provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Edison International had a net margin of 3.63% and a return on equity of 12.42%. The company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, equities research analysts forecast that Edison International will post 4.42 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, July 31st. Stockholders of record on Tuesday, July 5th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, July 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.10%. Edison International’s payout ratio is 212.12%.

Analyst Ratings Changes

A number of brokerages have commented on EIX. UBS Group decreased their price objective on Edison International from $73.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 30th. Citigroup lifted their price target on Edison International from $67.00 to $79.00 in a research note on Wednesday, May 4th. Royal Bank of Canada lifted their price target on Edison International from $73.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, April 14th. Barclays dropped their price target on Edison International from $73.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Finally, Mizuho downgraded Edison International from a “buy” rating to a “neutral” rating and lowered their target price for the company from $82.00 to $72.00 in a research report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $72.75.

Edison International Profile

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Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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