Amalgamated Bank Sells 2,190 Shares of Edison International (NYSE:EIX)

Amalgamated Bank cut its holdings in shares of Edison International (NYSE:EIX) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,579 shares of the utilities provider’s stock after selling 2,190 shares during the period. Amalgamated Bank’s holdings in Edison International were worth $6,582,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Highline Wealth Partners LLC bought a new position in shares of Edison International in the third quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new position in Edison International during the 2nd quarter valued at $27,000. Eastern Bank purchased a new position in Edison International during the 3rd quarter worth $27,000. Country Trust Bank bought a new stake in shares of Edison International in the 2nd quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EIX. Guggenheim upped their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Evercore ISI upped their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Barclays lifted their price target on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Bank of America assumed coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.36.

Edison International Trading Down 1.0 %

Shares of EIX opened at $81.16 on Thursday. Edison International has a fifty-two week low of $62.21 and a fifty-two week high of $88.77. The business has a 50-day moving average of $85.17 and a 200 day moving average of $79.08. The firm has a market cap of $31.42 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the business earned $1.38 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.84%. Edison International’s payout ratio is 91.50%.

Insiders Place Their Bets

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. Insiders have sold a total of 50,878 shares of company stock worth $4,285,422 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

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.