Meiji Yasuda Life Insurance Co Takes Position in Edison International $EIX

Key Points

• Meiji Yasuda Life Insurance Co has invested approximately $456,000 in Edison International, purchasing 7,731 shares in the first quarter.
• Hedge funds collectively own 88.95% of Edison International's stock, indicating strong institutional interest.
• Edison International recently announced a quarterly dividend of $0.8275 per share, resulting in an annualized yield of 6.2%.

Meiji Yasuda Life Insurance Co purchased a new stake in Edison International (NYSE:EIX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,731 shares of the utilities provider's stock, valued at approximately $456,000.

A number of other institutional investors also recently modified their holdings of EIX. Rakuten Securities Inc. raised its position in Edison International by 4,633.3% in the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after buying an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Edison International in the first quarter valued at approximately $25,000. Investment Management Corp VA ADV lifted its position in shares of Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after purchasing an additional 265 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Edison International during the first quarter worth $35,000. Finally, Versant Capital Management Inc grew its position in Edison International by 96.7% in the first quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock valued at $52,000 after purchasing an additional 433 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Performance

EIX traded up $0.05 on Friday, reaching $56.27. The company had a trading volume of 2,204,128 shares, compared to its average volume of 2,987,982. The stock has a market cap of $21.65 billion, a P/E ratio of 8.26, a P/E/G ratio of 1.32 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. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64. The company's fifty day moving average is $53.79 and its 200 day moving average is $54.69.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The firm's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Monday, July 7th. Edison International's payout ratio is 48.60%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Morgan Stanley reiterated an "overweight" rating on shares of Edison International in a report on Thursday, August 21st. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Barclays boosted their price target on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, UBS Group cut their price objective on Edison International from $68.00 to $66.00 and set a "buy" rating for the company in a report on Thursday. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Edison International currently has a consensus rating of "Moderate Buy" and an average price target of $71.15.

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.