Allianz Asset Management GmbH Raises Holdings in Edison International $EIX

Key Points

• Allianz Asset Management GmbH increased its holdings in Edison International by 12.8% during the second quarter, owning approximately 1.4 million shares worth $73.1 million.
• The company reported $0.97 earnings per share for the quarter, exceeding analysts' expectations and demonstrating a 4.8% revenue growth year-over-year.
• Edison International declared a quarterly dividend of $0.8275, which represents an annualized yield of 5.8%, payable on October 31st.

Allianz Asset Management GmbH increased its position in Edison International (NYSE:EIX - Free Report) by 12.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,416,418 shares of the utilities provider's stock after buying an additional 160,969 shares during the quarter. Allianz Asset Management GmbH owned about 0.37% of Edison International worth $73,087,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. New York State Teachers Retirement System raised its position in shares of Edison International by 12.6% in the 2nd quarter. New York State Teachers Retirement System now owns 370,411 shares of the utilities provider's stock worth $19,113,000 after buying an additional 41,419 shares during the period. TD Asset Management Inc raised its position in Edison International by 67.5% in the second quarter. TD Asset Management Inc now owns 323,320 shares of the utilities provider's stock valued at $16,683,000 after purchasing an additional 130,289 shares during the period. NorthRock Partners LLC raised its position in Edison International by 28.8% in the second quarter. NorthRock Partners LLC now owns 4,585 shares of the utilities provider's stock valued at $237,000 after purchasing an additional 1,026 shares during the period. Sequoia Financial Advisors LLC raised its position in Edison International by 27.9% in the second quarter. Sequoia Financial Advisors LLC now owns 11,829 shares of the utilities provider's stock valued at $610,000 after purchasing an additional 2,582 shares during the period. Finally, MGO One Seven LLC raised its position in Edison International by 23.9% in the second quarter. MGO One Seven LLC now owns 9,654 shares of the utilities provider's stock valued at $498,000 after purchasing an additional 1,862 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on EIX. Jefferies Financial Group lowered Edison International from a "buy" rating to a "hold" rating and cut their price objective for the company from $70.00 to $57.00 in a research report on Thursday, October 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of Edison International in a research report on Wednesday, October 8th. Barclays raised their price objective on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. TD Cowen assumed coverage on Edison International in a research report on Thursday. They issued a "buy" rating and a $71.00 price objective on the stock. Finally, Cowen assumed coverage on Edison International in a research report on Wednesday. They set a "buy" rating on the stock. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Edison International has a consensus rating of "Hold" and an average price target of $65.25.

Edison International Stock Down 0.1%

Shares of NYSE EIX opened at $56.69 on Friday. Edison International has a 1 year low of $47.73 and a 1 year high of $88.64. The firm has a market cap of $21.82 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 0.97 and a beta of 0.80. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The stock's 50-day simple moving average is $55.14 and its 200-day simple moving average is $54.41.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the previous year, the company earned $1.23 earnings per share. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, equities analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Tuesday, October 7th. Edison International's dividend payout ratio (DPR) is 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.

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