Achmea Investment Management B.V. Reduces Position in Edison International (NYSE:EIX)

Achmea Investment Management B.V. trimmed its holdings in shares of Edison International (NYSE:EIX - Free Report) by 64.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,629 shares of the utilities provider's stock after selling 90,946 shares during the quarter. Achmea Investment Management B.V.'s holdings in Edison International were worth $2,984,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Whittier Trust Co. increased its position in shares of Edison International by 4.9% during the fourth quarter. Whittier Trust Co. now owns 4,295 shares of the utilities provider's stock worth $343,000 after acquiring an additional 200 shares during the last quarter. FSB Premier Wealth Management Inc. increased its position in shares of Edison International by 5.2% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 4,403 shares of the utilities provider's stock worth $352,000 after acquiring an additional 217 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in Edison International by 0.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider's stock worth $4,365,000 after purchasing an additional 218 shares in the last quarter. KWB Wealth grew its stake in Edison International by 1.5% in the first quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock worth $869,000 after purchasing an additional 218 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Edison International by 27.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,115 shares of the utilities provider's stock worth $89,000 after purchasing an additional 243 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on EIX. Mizuho decreased their price target on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Morgan Stanley decreased their price target on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. The Goldman Sachs Group decreased their price target on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, Barclays lifted their price target on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Edison International currently has an average rating of "Moderate Buy" and a consensus price target of $76.82.

Edison International Stock Performance

Shares of EIX stock opened at $50.94 on Friday. The business has a 50 day moving average of $54.41 and a two-hundred day moving average of $58.68. The company has a market cap of $19.60 billion, a P/E ratio of 7.23, a PEG ratio of 1.19 and a beta of 0.78. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. The company had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $4.29 billion. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The business's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 earnings per share. As a group, analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.50%. Edison International's dividend payout ratio (DPR) is presently 46.95%.

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.

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