Edison International (NYSE:EIX) Shares Sold by Achmea Investment Management B.V.

Achmea Investment Management B.V. reduced its position in Edison International (NYSE:EIX - Free Report) by 64.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in Edison International in the 4th quarter valued at about $437,000. Lake Street Advisors Group LLC grew its stake in shares of Edison International by 15.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 3,477 shares of the utilities provider's stock valued at $278,000 after purchasing an additional 462 shares during the last quarter. Nwam LLC increased its holdings in shares of Edison International by 16.9% in the fourth quarter. Nwam LLC now owns 5,388 shares of the utilities provider's stock valued at $430,000 after purchasing an additional 777 shares during the period. New York Life Investment Management LLC raised its stake in shares of Edison International by 1.0% during the fourth quarter. New York Life Investment Management LLC now owns 51,789 shares of the utilities provider's stock worth $4,135,000 after purchasing an additional 529 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Edison International by 1.7% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 149,500 shares of the utilities provider's stock worth $11,936,000 after purchasing an additional 2,500 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Price Performance

Edison International stock traded down $0.34 during mid-day trading on Wednesday, hitting $52.54. 2,998,965 shares of the company were exchanged, compared to its average volume of 3,301,010. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. The business's 50 day simple moving average is $54.23 and its two-hundred day simple moving average is $58.27. The company has a market capitalization of $20.21 billion, a P/E ratio of 7.47, a PEG ratio of 1.21 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. The firm had revenue of $3.81 billion during 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 firm's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. Analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be given 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 yield of 6.30%. Edison International's dividend payout ratio (DPR) is currently 46.95%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EIX shares. The Goldman Sachs Group dropped their price objective on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley lowered their target price on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Barclays increased their price target on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. dropped their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Edison International has a consensus rating of "Moderate Buy" and a consensus price target of $76.82.

Edison International 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.