EP Wealth Advisors Inc. cut its stake in shares of Edison International (NYSE:EIX) by 1.7% during the third quarter, Holdings Channel reports. The institutional investor owned 97,231 shares of the company’s stock after selling 1,718 shares during the period. Edison International makes up approximately 1.1% of EP Wealth Advisors Inc.’s investment portfolio, making the stock its 27th largest position. EP Wealth Advisors Inc.’s holdings in Edison International were worth $7,025,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its stake in Edison International by 0.5% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,912 shares of the company’s stock valued at $210,000 after buying an additional 14 shares in the last quarter. Baystate Wealth Management LLC raised its stake in Edison International by 0.5% in the third quarter. Baystate Wealth Management LLC now owns 3,042 shares of the company’s stock valued at $220,000 after buying an additional 16 shares in the last quarter. Washington Trust Bank raised its stake in Edison International by 0.9% in the third quarter. Washington Trust Bank now owns 2,777 shares of the company’s stock valued at $201,000 after buying an additional 25 shares in the last quarter. Raymond James Trust N.A. raised its stake in Edison International by 0.9% in the third quarter. Raymond James Trust N.A. now owns 4,390 shares of the company’s stock valued at $317,000 after buying an additional 41 shares in the last quarter. Finally, Element Capital Management LLC raised its stake in Edison International by 0.8% in the second quarter. Element Capital Management LLC now owns 8,736 shares of the company’s stock valued at $679,000 after buying an additional 70 shares in the last quarter. Institutional investors own 81.75% of the company’s stock.
Edison International (NYSE:EIX) opened at 75.21 on Friday. Edison International has a 1-year low of $61.50 and a 1-year high of $78.72. The firm has a market cap of $24.50 billion, a P/E ratio of 27.89 and a beta of 0.15. The stock has a 50 day moving average price of $72.31 and a 200-day moving average price of $72.20.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th were given a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from Edison International’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Wednesday, December 28th. Edison International’s payout ratio is presently 80.67%.
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A number of equities research analysts recently commented on EIX shares. Evercore ISI restated a “hold” rating on shares of Edison International in a research report on Friday, January 20th. RBC Capital Markets set a $81.00 price target on Edison International and gave the stock a “buy” rating in a research report on Wednesday, January 4th. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Monday, January 30th. Finally, Barclays PLC increased their price target on Edison International from $73.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Friday, January 20th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $77.73.
In other news, insider Ronald L. Litzinger sold 38,086 shares of Edison International stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $69.40, for a total value of $2,643,168.40. Following the completion of the sale, the insider now directly owns 12,054 shares in the company, valued at $836,547.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.51% of the stock is currently owned by insiders.
About Edison International
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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