ING Groep NV Buys Shares of 54,142 Edison International (NYSE:EIX)

ING Groep NV purchased a new position in Edison International (NYSE:EIX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 54,142 shares of the utilities provider’s stock, valued at approximately $4,715,000.

Other institutional investors have also made changes to their positions in the company. Metis Global Partners LLC lifted its stake in Edison International by 11.5% in the third quarter. Metis Global Partners LLC now owns 88,008 shares of the utilities provider’s stock valued at $7,665,000 after buying an additional 9,108 shares during the period. KBC Group NV raised its position in shares of Edison International by 93.3% in the 3rd quarter. KBC Group NV now owns 49,578 shares of the utilities provider’s stock valued at $4,318,000 after acquiring an additional 23,935 shares during the period. Huntington National Bank boosted its stake in Edison International by 30.8% during the 3rd quarter. Huntington National Bank now owns 5,013 shares of the utilities provider’s stock worth $437,000 after acquiring an additional 1,179 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Edison International by 3.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 10,892 shares of the utilities provider’s stock valued at $949,000 after purchasing an additional 407 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Edison International by 6.0% in the third quarter. Victory Capital Management Inc. now owns 519,330 shares of the utilities provider’s stock valued at $45,228,000 after purchasing an additional 29,554 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. This represents a 54.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,878 shares of company stock worth $4,285,422. Insiders own 1.03% of the company’s stock.

Edison International Trading Up 1.9 %

Shares of NYSE:EIX opened at $83.67 on Friday. The company’s 50-day moving average price is $84.61 and its two-hundred day moving average price is $79.51. Edison International has a one year low of $63.15 and a one year high of $88.77. 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 stock has a market capitalization of $32.39 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) 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 analyst estimates of $5.01 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. Edison International’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.73%. Edison International’s dividend payout ratio is presently 91.50%.

Analyst Upgrades and Downgrades

EIX has been the subject of several research analyst reports. Morgan Stanley boosted their price target on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. UBS Group boosted their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Royal Bank of Canada raised their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. Finally, Evercore ISI increased their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International 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.