Edison International (EIX) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. increased its position in shares of Edison International (NYSE:EIX) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,246 shares of the company’s stock after buying an additional 1,711 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of Edison International worth $38,311,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position in shares of Edison International by 309.5% in the first quarter. Renaissance Technologies LLC now owns 769,800 shares of the company’s stock worth $55,341,000 after buying an additional 581,800 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of Edison International by 145.3% in the first quarter. Panagora Asset Management Inc. now owns 220,063 shares of the company’s stock worth $15,820,000 after buying an additional 130,351 shares in the last quarter. Suntrust Banks Inc. raised its position in shares of Edison International by 2.8% in the second quarter. Suntrust Banks Inc. now owns 17,095 shares of the company’s stock worth $1,326,000 after buying an additional 472 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Edison International by 5.4% in the first quarter. Raymond James Trust N.A. now owns 4,137 shares of the company’s stock worth $298,000 after buying an additional 212 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new position in shares of Edison International during the first quarter worth approximately $3,310,000. 81.96% of the stock is owned by institutional investors and hedge funds.
Edison International (NYSE:EIX) traded up 0.537% during mid-day trading on Tuesday, hitting $73.915. 257,049 shares of the stock traded hands. Edison International has a one year low of $57.51 and a one year high of $78.72. The stock has a market capitalization of $24.08 billion, a PE ratio of 27.406 and a beta of 0.17. The company has a 50 day moving average price of $73.96 and a 200-day moving average price of $72.97.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.97 by $0.12. Edison International had a return on equity of 9.13% and a net margin of 8.56%. The business earned $2.78 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the firm earned $1.16 EPS. Edison International’s revenue for the quarter was down 4.5% compared to the same quarter last year. Equities analysts anticipate that Edison International will post $3.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Wednesday, September 28th. Edison International’s dividend payout ratio (DPR) is 71.11%.
A number of research analysts have recently commented on EIX shares. Jefferies Group reaffirmed a “hold” rating on shares of Edison International in a research report on Monday, July 11th. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Tuesday, June 21st. Evercore ISI lowered shares of Edison International from a “buy” rating to a “hold” rating and upped their price objective for the company from $70.00 to $79.00 in a research report on Wednesday, July 6th. Deutsche Bank AG increased their price target on shares of Edison International from $76.00 to $77.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Finally, Argus reissued a “buy” rating and issued a $86.00 price target (up previously from $83.00) on shares of Edison International in a research report on Tuesday, July 5th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Edison International has an average rating of “Hold” and a consensus target price of $77.38.
In other Edison International news, Director Jagjeet S. Bindra sold 3,995 shares of Edison International stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $73.80, for a total value of $294,831.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ellen O. Tauscher sold 3,012 shares of Edison International stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $71.87, for a total transaction of $216,472.44. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.
Edison International Company Profile
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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