Edison International $EIX Shares Bought by Groupama Asset Managment

Key Points

• Groupama Asset Managment significantly increased its stake in Edison International by 597.3% in the first quarter, now owning a total of 29,208 shares valued at approximately $1.7 million.
• Multiple institutional investors have also boosted their holdings in Edison International, with 88.95% of the company's stock now owned by institutional investors.
• Edison International reported an earnings per share (EPS) of $0.97 for the last quarter, exceeding analysts' expectations, and declared a quarterly dividend yielding 5.9%.

Groupama Asset Managment grew its holdings in shares of Edison International (NYSE:EIX - Free Report) by 597.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,208 shares of the utilities provider's stock after acquiring an additional 25,019 shares during the period. Groupama Asset Managment's holdings in Edison International were worth $1,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of EIX. Rakuten Securities Inc. grew its position in shares of Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new stake in Edison International during the 1st quarter worth approximately $25,000. Investment Management Corp VA ADV raised its stake in Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after acquiring an additional 265 shares during the period. Bellwether Advisors LLC bought a new stake in Edison International during the 4th quarter worth approximately $34,000. Finally, Zions Bancorporation National Association UT bought a new stake in Edison International during the 1st quarter worth approximately $35,000. Institutional investors own 88.95% of the company's stock.

Edison International Price Performance

Shares of EIX stock traded down $0.6250 on Monday, reaching $54.9750. 495,645 shares of the company were exchanged, compared to its average volume of 4,370,413. The company has a market cap of $21.16 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 1.31 and a beta of 0.75. The business has a 50-day moving average price of $52.50 and a 200 day moving average price of $54.32. 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 1 year low of $47.73 and a 1 year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The company 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. Edison International's revenue 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. Equities research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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 $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.0%. The ex-dividend date was Monday, July 7th. Edison International's payout ratio is presently 48.60%.

Analysts Set New Price Targets

EIX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Barclays upped their target price on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Morgan Stanley dropped their target price on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.21.

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.