Kentucky Retirement Systems Cuts Holdings in Edison International (NYSE:EIX)

Kentucky Retirement Systems lessened its position in shares of Edison International (NYSE:EIX) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,903 shares of the utilities provider’s stock after selling 2,091 shares during the period. Kentucky Retirement Systems’ holdings in Edison International were worth $2,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC purchased a new position in Edison International in the first quarter valued at approximately $230,000. Swedbank AB boosted its position in Edison International by 76.3% during the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after purchasing an additional 193,307 shares during the period. Janus Henderson Group PLC increased its holdings in Edison International by 150.6% in the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock valued at $12,004,000 after purchasing an additional 102,000 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Edison International by 165.5% in the first quarter. Ameritas Investment Partners Inc. now owns 11,309 shares of the utilities provider’s stock valued at $800,000 after purchasing an additional 7,050 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Edison International by 88.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 19,265 shares of the utilities provider’s stock worth $1,363,000 after purchasing an additional 9,044 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays increased their target price on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Guggenheim boosted their target price 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. UBS Group upped their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Bank of America began coverage on shares of Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.75.

Insider Activity at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Andrew Murphy sold 1,362 shares of the business’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 transaction of $115,770.00. Following the completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,687,250. The trade was a 6.42 % decrease in their ownership of the stock. 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 ninety days. 1.03% of the stock is currently owned by corporate insiders.

Edison International Price Performance

EIX opened at $83.68 on Monday. The firm has a market cap of $32.40 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company’s 50-day moving average price is $84.55 and its 200 day moving average price is $79.72.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 EPS. As a group, sell-side analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 91.50%.

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.