Resona Asset Management Co. Ltd. Has $7.10 Million Holdings in Edison International $EIX

Resona Asset Management Co. Ltd. trimmed its position in Edison International (NYSE:EIX) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,478 shares of the utilities provider’s stock after selling 8,710 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Edison International were worth $7,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC increased its stake in Edison International by 113.7% in the third quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 307 shares during the period. Laurel Wealth Advisors LLC boosted its holdings in Edison International by 5,064.3% during the second quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 709 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in shares of Edison International in the 2nd quarter valued at approximately $38,000. Quent Capital LLC acquired a new position in shares of Edison International in the 3rd quarter worth approximately $40,000. Finally, Hilltop National Bank bought a new position in shares of Edison International during the 2nd quarter worth approximately $44,000. 88.95% of the stock is owned by institutional investors.

Insider Transactions at Edison International

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the transaction, the director directly owned 35,212 shares in the company, valued at approximately $1,946,167.24. This represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

EIX has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price target on shares of Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a report on Thursday, January 15th. Zacks Research lowered Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Wells Fargo & Company downgraded Edison International from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $56.00 to $59.00 in a research report on Tuesday, January 20th. Finally, Morgan Stanley reissued an “underweight” rating on shares of Edison International in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.70.

Edison International Stock Performance

EIX stock opened at $61.66 on Tuesday. The company has a 50 day moving average price of $59.47 and a 200 day moving average price of $56.57. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $62.62. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The stock has a market capitalization of $23.72 billion, a PE ratio of 8.06, a price-to-earnings-growth ratio of 0.89 and a beta of 0.83.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.16 by $0.18. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $1.51 EPS. Analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th will be issued a dividend of $0.8775 per share. The ex-dividend date of this dividend is Wednesday, January 7th. This represents a $3.51 annualized dividend and a yield of 5.7%. This is an increase from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio (DPR) is presently 45.88%.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.