Generali Asset Management SPA SGR Purchases New Position in Edison International (NYSE:EIX)

Generali Asset Management SPA SGR purchased a new stake in shares of Edison International (NYSE:EIX) in the 4th quarter, Holdings Channel reports. The fund purchased 88,759 shares of the utilities provider’s stock, valued at approximately $7,087,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. increased its position in shares of Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 157 shares in the last quarter. Jamison Private Wealth Management Inc. increased its position in shares of Edison International by 2.6% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after acquiring an additional 174 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of Edison International by 2.9% during the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock valued at $503,000 after acquiring an additional 176 shares in the last quarter. Old Port Advisors increased its position in shares of Edison International by 0.9% during the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock valued at $1,540,000 after acquiring an additional 180 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 0.4 %

EIX opened at $58.74 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The firm’s fifty day moving average is $55.80 and its 200 day moving average is $74.01. The stock has a market cap of $22.61 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. On average, sell-side analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.64%. Edison International’s dividend payout ratio is currently 100.30%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EIX shares. Wells Fargo & Company dropped their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. LADENBURG THALM/SH SH upgraded 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. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. The Goldman Sachs Group dropped their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Mizuho dropped their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.54.

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.