Whittier Trust Co. of Nevada Inc. Sells 178 Shares of Edison International (NYSE:EIX)

Whittier Trust Co. of Nevada Inc. reduced its stake in shares of Edison International (NYSE:EIX) by 16.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 894 shares of the utilities provider’s stock after selling 178 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Edison International were worth $63,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ausbil Investment Management Ltd increased its holdings in Edison International by 54.7% during the 4th quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock worth $9,658,000 after purchasing an additional 47,784 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Edison International by 4.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock worth $976,000 after purchasing an additional 551 shares in the last quarter. Jump Financial LLC bought a new stake in Edison International during the 4th quarter worth approximately $1,215,000. Avantax Advisory Services Inc. increased its holdings in Edison International by 73.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock worth $1,509,000 after purchasing an additional 8,922 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in Edison International during the 4th quarter worth approximately $1,233,000. 88.95% of the stock is owned by institutional investors.

Insider Transactions at Edison International

In other news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 9,794 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,475,876.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,897 shares of company stock valued at $5,851,245. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. Wells Fargo & Company raised Edison International from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $72.00 to $86.00 in a report on Tuesday, May 14th. Mizuho upped their target price on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. Morgan Stanley reduced their target price on Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a report on Monday, June 24th. Finally, Argus upped their target price on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Edison International currently has an average rating of “Hold” and an average price target of $77.40.

Edison International Stock Performance

Edison International stock traded down $0.04 during trading on Tuesday, hitting $71.53. The stock had a trading volume of 1,369,038 shares, compared to its average volume of 2,046,318. The stock has a market cap of $27.52 billion, a price-to-earnings ratio of 31.37 and a beta of 0.91. The stock’s 50 day moving average is $73.56 and its two-hundred day moving average is $70.55. Edison International has a 1 year low of $58.82 and a 1 year high of $77.04. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 earnings per share. As a group, analysts predict that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be issued a $0.78 dividend. The ex-dividend date is Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 4.36%. Edison International’s payout ratio is currently 136.84%.

Edison International 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.