United Services Automobile Association Purchases New Holdings in Edison International $EIX

Key Points

• United Services Automobile Association acquired 8,631 shares of Edison International, valued at approximately $502,000, in the first quarter.
• Edison International reported $0.97 EPS for the last quarter, exceeding the consensus estimate of $0.88 and showing a 4.8% revenue increase compared to the same quarter last year.
• As of now, approximately 88.95% of Edison International's stock is owned by hedge funds and institutional investors.

United Services Automobile Association acquired a new stake in shares of Edison International (NYSE:EIX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,631 shares of the utilities provider's stock, valued at approximately $502,000.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC boosted its stake in shares of Edison International by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider's stock valued at $319,169,000 after purchasing an additional 3,559,602 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Edison International by 111.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock worth $333,689,000 after acquiring an additional 2,987,318 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. grew its position in Edison International by 197.2% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider's stock worth $258,997,000 after acquiring an additional 2,916,645 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Edison International by 38.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider's stock valued at $274,485,000 after purchasing an additional 1,289,062 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Edison International by 42.7% during the 1st quarter. Ameriprise Financial Inc. now owns 3,988,091 shares of the utilities provider's stock valued at $234,978,000 after purchasing an additional 1,194,296 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EIX has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. Barclays raised their price objective on shares of Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. UBS Group reduced their target price on shares of Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a research report on Thursday. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Edison International in a report on Thursday, August 21st. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $71.15.

Edison International Trading Up 0.1%

EIX traded up $0.05 during trading on Friday, reaching $56.27. 2,204,128 shares of the company's stock were exchanged, compared to its average volume of 2,987,982. The company's fifty day moving average price is $53.79 and its 200-day moving average price is $54.69. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64. The firm has a market capitalization of $21.65 billion, a PE ratio of 8.26, a P/E/G ratio of 1.32 and a beta of 0.80.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the prior year, the business posted $1.23 EPS. The firm's quarterly revenue was up 4.8% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, equities analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's dividend payout ratio (DPR) is presently 48.60%.

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.