GAM Holding AG raised its stake in Edison International (NYSE:EIX) by 11.2% during the third quarter, Holdings Channel reports. The firm owned 70,136 shares of the company’s stock after buying an additional 7,088 shares during the period. GAM Holding AG’s holdings in Edison International were worth $5,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EIX. JPMorgan Chase & Co. increased its position in shares of Edison International by 25.3% in the second quarter. JPMorgan Chase & Co. now owns 16,223,155 shares of the company’s stock valued at $1,260,052,000 after buying an additional 3,277,814 shares during the period. Vanguard Group Inc. increased its position in shares of Edison International by 8.0% in the second quarter. Vanguard Group Inc. now owns 24,445,643 shares of the company’s stock valued at $1,898,694,000 after buying an additional 1,811,159 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Edison International by 81.7% in the second quarter. Lord Abbett & CO. LLC now owns 2,460,224 shares of the company’s stock valued at $191,086,000 after buying an additional 1,106,314 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Edison International during the second quarter valued at $80,013,000. Finally, Alliancebernstein L.P. increased its position in shares of Edison International by 18.2% in the second quarter. Alliancebernstein L.P. now owns 4,735,708 shares of the company’s stock valued at $367,822,000 after buying an additional 728,925 shares during the period. Hedge funds and other institutional investors own 80.42% of the company’s stock.

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

Edison International (NYSE:EIX) traded down 3.35% during midday trading on Wednesday, reaching $68.77. The company’s stock had a trading volume of 2,276,632 shares. Edison International has a 52 week low of $57.85 and a 52 week high of $78.72. The company’s 50-day moving average is $70.57 and its 200 day moving average is $73.14. The firm has a market capitalization of $22.41 billion, a P/E ratio of 25.50 and a beta of 0.17.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.06. Edison International had a net margin of 8.80% and a return on equity of 9.59%. The company earned $3.77 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period last year, the firm earned $1.16 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. Analysts expect that Edison International will post $3.91 earnings per share for the current fiscal year.

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EIX has been the topic of several research analyst reports. Zacks Investment Research upgraded Edison International from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, September 27th. Argus dropped their price target on Edison International from $86.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, October 4th. Jefferies Group reiterated a “hold” rating and set a $80.00 price target on shares of Edison International in a research note on Friday, September 2nd. SunTrust Banks Inc. boosted their price target on Edison International from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, September 26th. Finally, Citigroup Inc. dropped their price target on Edison International from $79.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 4th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $76.79.

In other news, insider Ronald L. Litzinger sold 38,084 shares of Edison International stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $72.10, for a total transaction of $2,745,856.40. Following the completion of the sale, the insider now directly owns 12,053 shares in the company, valued at approximately $869,021.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ronald L. Litzinger sold 38,086 shares of Edison International stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $69.40, for a total transaction of $2,643,168.40. Following the sale, the insider now owns 12,054 shares of the company’s stock, valued at $836,547.60. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.

About Edison International

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.

5 Day Chart for NYSE:EIX

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