Tokio Marine Asset Management Co. Ltd. Has $775,000 Stake in Edison International (EIX)
Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Edison International (NYSE:EIX) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 9,975 shares of the company’s stock after buying an additional 223 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Edison International were worth $775,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Aviva PLC boosted its position in Edison International by 2.3% in the first quarter. Aviva PLC now owns 167,505 shares of the company’s stock valued at $12,042,000 after buying an additional 3,826 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Edison International during the first quarter valued at approximately $2,425,000. M&T Bank Corp boosted its position in Edison International by 13.0% in the first quarter. M&T Bank Corp now owns 26,263 shares of the company’s stock valued at $1,887,000 after buying an additional 3,015 shares during the last quarter. Brookfield Asset Management Inc. bought a new position in Edison International during the first quarter valued at approximately $101,322,000. Finally, Bessemer Group Inc. boosted its position in Edison International by 8.4% in the first quarter. Bessemer Group Inc. now owns 1,838,990 shares of the company’s stock valued at $132,207,000 after buying an additional 143,078 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.
Shares of Edison International (NYSE:EIX) traded up 0.09% during midday trading on Thursday, reaching $69.82. 1,606,336 shares of the company’s stock were exchanged. The company’s 50 day moving average is $73.08 and its 200-day moving average is $73.21. Edison International has a 12 month low of $57.51 and a 12 month high of $78.72. The stock has a market cap of $22.75 billion, a PE ratio of 25.89 and a beta of 0.23.
Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $3.18 billion. Edison International had a return on equity of 9.13% and a net margin of 8.56%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. Equities analysts forecast that Edison International will post $3.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, September 28th. Edison International’s dividend payout ratio (DPR) is currently 71.11%.
A number of brokerages have recently issued reports on EIX. Evercore ISI cut shares of Edison International from a “buy” rating to a “hold” rating and increased their price objective for the company from $70.00 to $79.00 in a research note on Wednesday, July 6th. Zacks Investment Research upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research note on Monday, July 11th. Jefferies Group restated a “hold” rating on shares of Edison International in a research note on Monday, July 11th. Argus restated a “buy” rating and issued a $86.00 price objective (up previously from $83.00) on shares of Edison International in a research note on Tuesday, July 5th. Finally, Citigroup Inc. increased their price objective on shares of Edison International from $70.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, July 20th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $77.38.
In related news, Director Ellen O. Tauscher sold 3,012 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $71.87, for a total value of $216,472.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ronald L. Litzinger sold 38,084 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $72.10, for a total value of $2,745,856.40. Following the completion of the sale, the insider now owns 12,053 shares in the company, valued at $869,021.30. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.
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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