Raiffeisen Bank International AG Has $1.06 Million Stock Position in Edison International (NYSE:EIX)

Key Points

• Raiffeisen Bank International AG increased its stake in Edison International by 306.5% during the first quarter, acquiring an additional 13,720 shares and raising its holdings to 18,196 shares valued at over $1 million.
• Edison International reported $0.97 earnings per share for the last quarter, surpassing analysts' expectations of $0.88, and its revenue grew by 4.8% year-over-year to $4.54 billion.
• The company declared a quarterly dividend of $0.8275 per share, yielding 6.0%, with a current payout ratio of 48.60%.

Raiffeisen Bank International AG lifted its holdings in shares of Edison International (NYSE:EIX - Free Report) by 306.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,196 shares of the utilities provider's stock after buying an additional 13,720 shares during the quarter. Raiffeisen Bank International AG's holdings in Edison International were worth $1,059,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in shares of Edison International by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 475,891 shares of the utilities provider's stock valued at $37,995,000 after purchasing an additional 15,889 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in shares of Edison International in the fourth quarter worth $9,353,000. Wedbush Securities Inc. increased its stake in Edison International by 26.4% in the fourth quarter. Wedbush Securities Inc. now owns 7,922 shares of the utilities provider's stock valued at $633,000 after purchasing an additional 1,656 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Edison International in the fourth quarter valued at $255,000. Finally, Federated Hermes Inc. increased its stake in Edison International by 5,334.4% during the fourth quarter. Federated Hermes Inc. now owns 266,668 shares of the utilities provider's stock worth $21,291,000 after acquiring an additional 261,761 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Up 0.1%

NYSE:EIX traded up $0.04 during trading hours on Thursday, hitting $54.95. 4,312,722 shares of the stock were exchanged, compared to its average volume of 3,779,247. The company's 50 day moving average is $51.85 and its two-hundred day moving average is $54.39. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $21.15 billion, a P/E ratio of 8.07, a price-to-earnings-growth ratio of 1.29 and a beta of 0.75. Edison International has a twelve month low of $47.73 and a twelve month high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The firm's quarterly revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate 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 was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio is 48.60%.

Analyst Ratings Changes

A number of research firms have commented on EIX. Barclays increased their target price on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday. Evercore ISI restated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Morgan Stanley decreased their target price on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. cut their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $76.19.

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.