abrdn plc Has $123.15 Million Stock Position in Edison International (NYSE:EIX)

abrdn plc lifted its position in shares of Edison International (NYSE:EIX) by 166.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,418,526 shares of the utilities provider’s stock after buying an additional 885,955 shares during the quarter. abrdn plc owned about 0.37% of Edison International worth $123,149,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Research Global Investors lifted its holdings in shares of Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after buying an additional 345,189 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Edison International by 2.3% during the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after buying an additional 305,459 shares in the last quarter. Capital International Investors lifted its holdings in shares of Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after buying an additional 795,950 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Edison International by 0.5% during the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after buying an additional 24,834 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Edison International by 1.8% in the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after purchasing an additional 67,089 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Transactions at Edison International

In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares in the company, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,104 shares of company stock worth $4,949,264. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EIX shares. Argus boosted their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. Barclays dropped their price target on Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. UBS Group boosted their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Morgan Stanley boosted their price target on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and an average price target of $87.55.

Edison International Stock Performance

Edison International stock opened at $84.48 on Tuesday. Edison International has a 12-month low of $62.09 and a 12-month high of $88.77. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The business’s 50-day moving average price is $85.54 and its two-hundred day moving average price is $78.48. The stock has a market cap of $32.62 billion, a PE ratio of 33.93, a P/E/G ratio of 1.94 and a beta of 0.91.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Monday, October 7th. Edison International’s dividend payout ratio (DPR) is currently 125.30%.

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.