First Commonwealth Financial Corp PA Raises Position in Edison International (NYSE:EIX)

First Commonwealth Financial Corp PA lifted its stake in Edison International (NYSE:EIX) by 6.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,084 shares of the utilities provider’s stock after purchasing an additional 605 shares during the period. First Commonwealth Financial Corp PA’s holdings in Edison International were worth $878,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC increased its position in Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after acquiring an additional 24,834 shares in the last quarter. American Century Companies Inc. raised its stake in Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after acquiring an additional 67,089 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after purchasing an additional 28,240 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Edison International by 10.1% in the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock worth $148,768,000 after purchasing an additional 190,026 shares during the period. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on EIX shares. Royal Bank of Canada raised their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Barclays upped their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Evercore ISI lifted their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Bank of America began coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. Finally, Morgan Stanley reduced their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Edison International Price Performance

Shares of Edison International stock traded up $0.04 during trading hours on Wednesday, reaching $87.78. The company’s stock had a trading volume of 52,603 shares, compared to its average volume of 2,030,555. 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 has a one year low of $63.15 and a one year high of $88.77. The firm has a 50 day moving average price of $84.70 and a 200-day moving average price of $80.35. The stock has a market cap of $33.98 billion, a P/E ratio of 25.73, a P/E/G ratio of 2.09 and a beta of 0.92.

Edison International (NYSE:EIX) last issued 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. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. On average, analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 91.50%.

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.