Marks Group Wealth Management Inc Has $3.02 Million Holdings in Edison International (NYSE:EIX)

Marks Group Wealth Management Inc lessened its position in shares of Edison International (NYSE:EIX) by 1.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,673 shares of the utilities provider’s stock after selling 578 shares during the period. Marks Group Wealth Management Inc’s holdings in Edison International were worth $3,020,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of EIX. Highline Wealth Partners LLC bought a new position in shares of Edison International in the 3rd quarter worth about $26,000. Eastern Bank acquired a new stake in Edison International during the third quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Edison International in the second quarter worth approximately $27,000. Concord Wealth Partners lifted its stake in Edison International by 277.0% in the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock valued at $33,000 after buying an additional 277 shares during the period. Finally, Country Trust Bank acquired a new stake in shares of Edison International during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock opened at $81.97 on Wednesday. Edison International has a one year low of $62.21 and a one year high of $88.77. The firm has a 50-day moving average of $85.25 and a 200-day moving average of $79.06. The company has a market cap of $31.73 billion, a P/E ratio of 24.04, a P/E/G ratio of 1.89 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the firm earned $1.38 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.81%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is 91.50%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Guggenheim increased their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Argus boosted their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley increased their price target on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Finally, Bank of America initiated coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.36.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,877 shares of company stock valued at $4,285,341. Company insiders own 1.20% of the company’s stock.

Edison International Company 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.