Seelaus Asset Management LLC Decreases Stake in Edison International (NYSE:EIX)

Seelaus Asset Management LLC lessened its holdings in Edison International (NYSE:EIX) by 11.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,988 shares of the utilities provider’s stock after selling 400 shares during the period. Seelaus Asset Management LLC’s holdings in Edison International were worth $260,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EIX. Lake Street Advisors Group LLC grew its position in shares of Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC grew its holdings in Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after buying an additional 129 shares in the last quarter. SFE Investment Counsel increased its position in shares of Edison International by 0.3% during the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after buying an additional 130 shares during the period. Equitable Trust Co. lifted its holdings in shares of Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after buying an additional 132 shares in the last quarter. Finally, TIAA Trust National Association boosted its position in shares of Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Evercore ISI upped 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. UBS Group upped their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley lifted their price objective on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company boosted their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Barclays boosted their price target on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Stock Performance

Shares of EIX stock opened at $83.67 on Friday. The company has a market capitalization of $32.39 billion, a P/E ratio of 24.54, a PEG ratio of 1.96 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 debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a 50 day moving average price of $84.55 and a two-hundred day moving average price of $79.60.

Edison International (NYSE:EIX) last issued 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 company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 earnings per share. Analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.73%. Edison International’s payout ratio is presently 91.50%.

Insider Activity at Edison International

In other news, CEO J Andrew Murphy sold 1,362 shares of Edison International 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 approximately $1,687,250. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a 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 business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value 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 in the last 90 days. Company insiders own 1.03% of the company’s stock.

About Edison International

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.