Griffin Asset Management Inc. Has $1.74 Million Stake in Edison International (NYSE:EIX)

Griffin Asset Management Inc. lessened its holdings in Edison International (NYSE:EIX) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,620 shares of the utilities provider’s stock after selling 940 shares during the quarter. Griffin Asset Management Inc.’s holdings in Edison International were worth $1,741,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. LPL Financial LLC lifted its stake in Edison International by 10.7% during the third quarter. LPL Financial LLC now owns 206,482 shares of the utilities provider’s stock worth $13,068,000 after purchasing an additional 20,002 shares during the period. Mariner LLC lifted its position in shares of Edison International by 3.2% during the 3rd quarter. Mariner LLC now owns 34,447 shares of the utilities provider’s stock worth $2,180,000 after buying an additional 1,069 shares during the period. Natixis Advisors L.P. boosted its stake in Edison International by 12.7% in the 3rd quarter. Natixis Advisors L.P. now owns 175,855 shares of the utilities provider’s stock valued at $11,130,000 after buying an additional 19,851 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Edison International by 61.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 5,236 shares of the utilities provider’s stock valued at $331,000 after buying an additional 1,984 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Edison International by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 166,093 shares of the utilities provider’s stock valued at $10,512,000 after acquiring an additional 840 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,475,876.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,897 shares of company stock valued at $5,851,245. 1.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho boosted their target price on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Morgan Stanley cut their price target on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a report on Monday, June 24th. Wells Fargo & Company raised shares of Edison International from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $86.00 in a research note on Tuesday, May 14th. Barclays lifted their target price on shares of Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Argus increased their price target on Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Hold” and an average target price of $77.40.

Edison International Trading Down 0.3 %

Shares of EIX stock traded down $0.23 on Friday, reaching $71.81. 2,647,118 shares of the stock were exchanged, compared to its average volume of 1,742,993. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. Edison International has a one year low of $58.82 and a one year high of $77.04. The stock has a market cap of $27.63 billion, a PE ratio of 31.50 and a beta of 0.95. The stock has a 50 day moving average price of $73.45 and a 200 day moving average price of $70.45.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period last year, the company earned $1.09 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. Equities research analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.12 annualized dividend and a yield of 4.34%. Edison International’s dividend payout ratio is currently 136.84%.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.