Principal Financial Group Inc. Lowers Position in Edison International (NYSE:EIX)

Principal Financial Group Inc. lessened its stake in Edison International (NYSE:EIX) by 0.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 455,386 shares of the utilities provider’s stock after selling 3,808 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Edison International worth $36,358,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in shares of Edison International in the third quarter worth $26,000. Eastern Bank purchased a new position in shares of Edison International in the third quarter worth $27,000. Crews Bank & Trust purchased a new position in shares of Edison International in the fourth quarter worth $25,000. Larson Financial Group LLC lifted its holdings in shares of Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of Edison International in the third quarter worth $32,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of Edison International stock opened at $52.10 on Friday. Edison International has a one year low of $49.06 and a one year high of $88.77. The company has a market cap of $20.17 billion, a PE ratio of 15.28, a P/E/G ratio of 1.08 and a beta of 0.90. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The business has a 50-day simple moving average of $64.67 and a 200-day simple moving average of $77.72.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.35%. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio is 97.07%.

Wall Street Analyst Weigh In

Several research firms have recently commented on EIX. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Morgan Stanley dropped their target price on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, February 14th. Finally, UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $69.00 to $65.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average price target of $80.11.

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.