Candriam Luxembourg S.C.A. reduced its position in shares of Edison International (NYSE:EIX) by 47.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,018 shares of the company’s stock after selling 35,140 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Edison International were worth $2,819,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in Edison International by 8.2% in the third quarter. JPMorgan Chase & Co. now owns 17,550,763 shares of the company’s stock worth $1,268,042,000 after buying an additional 1,327,608 shares during the period. BlackRock Fund Advisors raised its stake in Edison International by 3.5% in the third quarter. BlackRock Fund Advisors now owns 8,284,648 shares of the company’s stock worth $598,566,000 after buying an additional 278,699 shares during the period. Alliancebernstein L.P. raised its stake in Edison International by 18.2% in the second quarter. Alliancebernstein L.P. now owns 4,735,708 shares of the company’s stock worth $367,822,000 after buying an additional 728,925 shares during the period. Northern Trust Corp raised its stake in Edison International by 4.0% in the third quarter. Northern Trust Corp now owns 4,306,023 shares of the company’s stock worth $311,109,000 after buying an additional 165,250 shares during the period. Finally, Boston Partners raised its stake in shares of Edison International by 9.1% in the third quarter. Boston Partners now owns 3,887,203 shares of the company’s stock valued at $280,851,000 after buying an additional 325,182 shares during the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.
Shares of Edison International (NYSE:EIX) traded up 0.60% during mid-day trading on Friday, hitting $75.21. The stock had a trading volume of 1,598,283 shares. The stock’s 50-day moving average price is $72.31 and its 200-day moving average price is $72.20. The firm has a market cap of $24.50 billion, a PE ratio of 27.89 and a beta of 0.15. Edison International has a 52-week low of $61.50 and a 52-week high of $78.72.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Investors of record on Friday, December 30th were paid a $0.5425 dividend. The ex-dividend date of this dividend was Wednesday, December 28th. This is a boost from Edison International’s previous quarterly dividend of $0.48. This represents a $2.17 annualized dividend and a dividend yield of 2.89%. Edison International’s dividend payout ratio (DPR) is presently 80.67%.
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Several brokerages recently commented on EIX. Evercore ISI upgraded Edison International from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Thursday, January 19th. Barclays PLC cut their target price on Edison International from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Monday, January 30th. Finally, RBC Capital Markets set a $81.00 target price on Edison International and gave the company a “buy” rating in a research report on Wednesday, January 4th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Edison International has an average rating of “Hold” and an average target price of $77.73.
In related news, insider Ronald L. Litzinger sold 38,086 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $2,643,168.40. Following the sale, the insider now directly owns 12,054 shares of the company’s stock, valued at $836,547.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is owned by company insiders.
Edison International Company Profile
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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