Seelaus Asset Management LLC Sells 400 Shares of Edison International (NYSE:EIX)

Seelaus Asset Management LLC cut its position in shares of Edison International (NYSE:EIX) by 11.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,988 shares of the utilities provider’s stock after selling 400 shares during the period. Seelaus Asset Management LLC’s holdings in Edison International were worth $260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EIX. Capital Research Global Investors lifted its holdings in shares of Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares during the last quarter. Capital International Investors raised its stake in Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after buying an additional 795,950 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Edison International by 0.5% in the second 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. grew its stake in shares of Edison International by 1.8% in the second 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 last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Edison International by 10.1% during the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock valued at $148,768,000 after acquiring an additional 190,026 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. This represents a 54.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. Insiders have sold a total of 50,878 shares of company stock valued at $4,285,422 in the last ninety days. Corporate insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EIX shares. Royal Bank of Canada upped their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Finally, Bank of America initiated coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.75.

Edison International Stock Performance

Shares of NYSE EIX opened at $83.67 on Friday. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The firm has a market capitalization of $32.39 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average of $84.55 and a 200 day moving average of $79.60.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 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 firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same period in the prior year, the business posted $1.38 EPS. Edison International’s revenue was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

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.