Sequoia Financial Advisors LLC Has $757,000 Holdings in Edison International (NYSE:EIX)

Sequoia Financial Advisors LLC trimmed its stake in shares of Edison International (NYSE:EIX - Free Report) by 89.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,583 shares of the utilities provider's stock after selling 88,566 shares during the period. Sequoia Financial Advisors LLC's holdings in Edison International were worth $757,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of EIX. International Assets Investment Management LLC acquired a new position in Edison International during the fourth quarter valued at $11,734,000. Peoples Bank OH acquired a new position in Edison International during the fourth quarter valued at $203,000. Nisa Investment Advisors LLC raised its position in Edison International by 1.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 39,737 shares of the utilities provider's stock valued at $2,841,000 after buying an additional 462 shares during the period. Asset Management One Co. Ltd. raised its position in Edison International by 7.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 201,791 shares of the utilities provider's stock valued at $14,448,000 after buying an additional 13,648 shares during the period. Finally, Arizona State Retirement System raised its position in Edison International by 0.8% during the fourth quarter. Arizona State Retirement System now owns 105,343 shares of the utilities provider's stock valued at $7,531,000 after buying an additional 858 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Down 1.6 %

Shares of NYSE EIX traded down $1.09 during mid-day trading on Tuesday, reaching $66.79. 1,425,887 shares of the company traded hands, compared to its average volume of 2,203,973. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The stock has a market cap of $25.69 billion, a PE ratio of 21.51 and a beta of 0.96. The company's fifty day moving average is $68.21 and its two-hundred day moving average is $67.29. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $74.92.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the prior year, the company earned $1.14 EPS. On average, analysts expect that Edison International will post 5.01 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.67%. Edison International's payout ratio is 100.00%.

Analyst Ratings Changes

Several research analysts recently weighed in on EIX shares. Barclays upped their price target on Edison International from $69.00 to $70.00 and gave the company an "equal weight" rating in a research report on Monday, February 26th. The Goldman Sachs Group began coverage on Edison International in a research report on Wednesday, April 10th. They issued a "neutral" rating and a $78.00 target price on the stock. Royal Bank of Canada dropped their target price on Edison International from $81.00 to $80.00 and set an "outperform" rating on the stock in a research report on Thursday, March 7th. TheStreet lowered Edison International from a "b" rating to a "c+" rating in a research report on Thursday, February 22nd. Finally, Guggenheim raised Edison International from a "neutral" rating to a "buy" rating and upped their target price for the stock from $66.00 to $84.00 in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Edison International presently has an average rating of "Hold" and a consensus price target of $73.60.

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.