Man Group plc Cuts Stock Holdings in Edison International (NYSE:EIX)

Man Group plc cut its position in shares of Edison International (NYSE:EIX - Free Report) by 42.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 217,802 shares of the utilities provider's stock after selling 162,740 shares during the quarter. Man Group plc owned approximately 0.06% of Edison International worth $17,389,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of EIX. Barclays PLC grew its position in Edison International by 16.9% during the 3rd quarter. Barclays PLC now owns 918,489 shares of the utilities provider's stock worth $79,991,000 after acquiring an additional 132,749 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Edison International by 119.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 30,014 shares of the utilities provider's stock valued at $2,396,000 after purchasing an additional 16,362 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Edison International by 10.8% in the 4th quarter. Park Avenue Securities LLC now owns 3,004 shares of the utilities provider's stock valued at $240,000 after purchasing an additional 294 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Edison International in the 4th quarter valued at approximately $235,000. Finally, Sanibel Captiva Trust Company Inc. increased its position in Edison International by 9.5% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 6,255 shares of the utilities provider's stock valued at $499,000 after buying an additional 545 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Up 0.4%

NYSE EIX traded up $0.26 during midday trading on Tuesday, hitting $58.26. 1,697,407 shares of the company traded hands, compared to its average volume of 3,032,387. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market cap of $22.42 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The company's 50-day simple moving average is $56.86 and its 200-day simple moving average is $64.90. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The business's revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were issued a dividend of $0.8275 per share. The ex-dividend date was Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.68%. Edison International's dividend payout ratio is presently 46.95%.

Analysts Set New Price Targets

A number of research firms have commented on EIX. UBS Group raised Edison International from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Barclays lifted their target price on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Morgan Stanley reissued an "overweight" rating on shares of Edison International in a research note on Wednesday, April 23rd. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. cut their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $76.89.

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.