CIBC Asset Management Inc Has $5.72 Million Position in Edison International (NYSE:EIX)

CIBC Asset Management Inc lifted its stake in Edison International (NYSE:EIX) by 7.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,687 shares of the utilities provider’s stock after purchasing an additional 4,509 shares during the period. CIBC Asset Management Inc’s holdings in Edison International were worth $5,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Research Global Investors increased its holdings in shares of Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares in the last quarter. Capital International Investors grew its holdings in Edison International by 6.4% during the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after acquiring an additional 795,950 shares during the period. Clearbridge Investments LLC grew its holdings in Edison International by 0.5% during the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after acquiring an additional 24,834 shares during the period. American Century Companies Inc. grew its holdings in Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after acquiring an additional 67,089 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Edison International by 10.1% during the 2nd quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock worth $148,768,000 after acquiring an additional 190,026 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 1.9 %

Edison International stock opened at $83.68 on Monday. The firm has a 50-day moving average of $84.55 and a 200-day moving average of $79.72. Edison International has a one year low of $63.15 and a one year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market cap of $32.40 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 2.00 and a beta of 0.92.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS 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 company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the business posted $1.38 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid 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 dividend yield of 3.73%. Edison International’s dividend payout ratio is 91.50%.

Analysts Set New Price Targets

A number of research firms have commented on EIX. Evercore ISI lifted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Wells Fargo & Company lifted their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays lifted their target price on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Insider Activity

In other news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were 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 of the company’s stock, valued at approximately $1,687,250. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed 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 dated Thursday, October 31st. The shares were 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. In the last ninety days, insiders have sold 50,878 shares of company stock valued at $4,285,422. 1.03% of the stock is owned by company insiders.

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.