Royal London Asset Management Ltd. Has $8.74 Million Position in Edison International (EIX)
Royal London Asset Management Ltd. trimmed its stake in shares of Edison International (NYSE:EIX) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,068 shares of the utilities provider’s stock after selling 2,455 shares during the period. Royal London Asset Management Ltd.’s holdings in Edison International were worth $8,737,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Macquarie Group Ltd. boosted its stake in shares of Edison International by 15.3% in the second quarter. Macquarie Group Ltd. now owns 11,095,751 shares of the utilities provider’s stock worth $702,028,000 after acquiring an additional 1,475,620 shares during the last quarter. Pzena Investment Management LLC raised its position in Edison International by 43.1% in the second quarter. Pzena Investment Management LLC now owns 7,836,404 shares of the utilities provider’s stock valued at $495,809,000 after purchasing an additional 2,361,340 shares during the period. Boston Partners raised its position in Edison International by 3.0% in the second quarter. Boston Partners now owns 5,075,296 shares of the utilities provider’s stock valued at $321,114,000 after purchasing an additional 145,785 shares during the period. American Century Companies Inc. raised its holdings in shares of Edison International by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 4,626,243 shares of the utilities provider’s stock valued at $292,702,000 after buying an additional 539,897 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Edison International by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 3,151,054 shares of the utilities provider’s stock valued at $199,336,000 after buying an additional 210,647 shares during the period. 81.93% of the stock is currently owned by institutional investors.
Several research analysts recently commented on EIX shares. Goldman Sachs Group set a $69.00 target price on Edison International and gave the stock a “hold” rating in a research note on Friday, September 14th. ValuEngine raised Edison International from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Wells Fargo & Co boosted their target price on Edison International from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, September 17th. Morgan Stanley boosted their target price on Edison International from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, September 11th. Finally, Argus boosted their target price on Edison International to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 11th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Edison International has a consensus rating of “Hold” and an average target price of $70.54.
Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.25. The business had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Edison International had a return on equity of 10.61% and a net margin of 4.47%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 EPS. As a group, research analysts forecast that Edison International will post 4.14 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were given a dividend of $0.605 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.42 annualized dividend and a dividend yield of 4.59%. Edison International’s dividend payout ratio is currently 53.78%.
Edison International Company Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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