SG Americas Securities LLC Purchases 49,169 Shares of Edison International (EIX)
SG Americas Securities LLC boosted its stake in shares of Edison International (NYSE:EIX) by 285.9% during the second quarter, Holdings Channel reports. The firm owned 66,365 shares of the utilities provider’s stock after buying an additional 49,169 shares during the period. SG Americas Securities LLC’s holdings in Edison International were worth $5,189,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in EIX. Guardian Life Insurance Co. of America increased its stake in Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after buying an additional 8 shares during the period. Jones Collombin Investment Counsel Inc increased its stake in Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock valued at $139,000 after buying an additional 715 shares during the period. Parallel Advisors LLC increased its stake in Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after buying an additional 741 shares during the period. Wayne Hummer Investments L.L.C. purchased a new stake in Edison International during the first quarter valued at $200,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in Edison International during the first quarter valued at $201,000. 81.73% of the stock is currently owned by institutional investors.
Shares of Edison International (NYSE EIX) opened at 79.01 on Friday. The company has a 50-day moving average price of $78.43 and a 200-day moving average price of $78.88. The company has a market capitalization of $25.74 billion, a price-to-earnings ratio of 18.68 and a beta of 0.22. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. On average, equities analysts anticipate that Edison International will post $4.24 EPS for the current year.
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Several brokerages have commented on EIX. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Thursday, July 6th. Jefferies Group LLC raised Edison International from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $90.00 in a report on Friday, August 11th. BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 target price on shares of Edison International in a report on Thursday. Barclays PLC reaffirmed an “equal weight” rating and set a $84.00 target price (up from $78.00) on shares of Edison International in a report on Sunday, April 23rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $84.35.
In related news, insider Gaddi H. Vasquez sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $81.30, for a total value of $203,250.00. Following the sale, the insider now owns 4,550 shares in the company, valued at $369,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ronald L. Litzinger sold 224,715 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the completion of the sale, the insider now owns 14,121 shares in the company, valued at approximately $1,137,305.34. The disclosure for this sale can be found here. Insiders have sold 229,715 shares of company stock valued at $18,505,971 in the last three months. 0.41% of the stock is owned by insiders.
About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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