Secure Asset Management LLC Cuts Stake in Edison International $EIX

Key Points

• Secure Asset Management LLC reduced its stake in Edison International by 34.2%, selling 11,615 shares and now holds 22,352 shares worth approximately $1.15 million.
• Vanguard Group and other institutional investors increased their stakes in Edison International, indicating growing confidence, with Vanguard's holdings reaching $2.89 billion.
• Edison International reported earnings of $0.97 EPS, exceeding analyst expectations, and announced a quarterly dividend yield of 6.0% with a payout ratio of 48.60%.

Secure Asset Management LLC trimmed its holdings in shares of Edison International (NYSE:EIX - Free Report) by 34.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,352 shares of the utilities provider's stock after selling 11,615 shares during the quarter. Secure Asset Management LLC's holdings in Edison International were worth $1,153,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. 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 worth $25,000 after purchasing an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in Edison International in the 1st quarter worth about $25,000. Investment Management Corp VA ADV raised its position in Edison International by 159.6% in the 1st 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 during the period. Zions Bancorporation National Association UT purchased a new stake in Edison International in the 1st quarter worth about $35,000. Finally, Versant Capital Management Inc raised its position in Edison International by 96.7% in the 1st quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock worth $52,000 after purchasing an additional 433 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Price Performance

Shares of NYSE EIX traded down $1.48 during trading on Monday, hitting $54.16. The company had a trading volume of 1,576,753 shares, compared to its average volume of 4,270,228. The firm has a market capitalization of $20.84 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 1.31 and a beta of 0.80. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64. The stock has a fifty day simple moving average of $54.26 and a two-hundred day simple moving average of $54.75. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. Edison International's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, research analysts expect that Edison International will post 4.95 earnings per share for the current 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 paid a dividend of $0.8275 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.1%. Edison International's payout ratio is 48.60%.

Analyst Ratings Changes

EIX has been the topic of a number of research analyst reports. UBS Group dropped their target price on shares of Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Morgan Stanley upped their target price on shares of Edison International from $55.00 to $61.00 and gave the stock an "underweight" rating in a research note on Thursday. Barclays increased their price objective on shares of Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $72.15.

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.