Royal London Asset Management Ltd. Takes $8.32 Million Position in Edison International (EIX)

Royal London Asset Management Ltd. purchased a new stake in shares of Edison International (NYSE:EIX) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 131,523 shares of the utilities provider’s stock, valued at approximately $8,323,000.

Several other hedge funds have also recently made changes to their positions in EIX. Federated Investors Inc. PA boosted its stake in shares of Edison International by 88.6% during the first quarter. Federated Investors Inc. PA now owns 190,694 shares of the utilities provider’s stock valued at $12,139,000 after purchasing an additional 89,562 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Edison International by 25.1% during the first quarter. Toronto Dominion Bank now owns 175,629 shares of the utilities provider’s stock valued at $11,178,000 after purchasing an additional 35,284 shares in the last quarter. Natixis Advisors L.P. boosted its stake in shares of Edison International by 4.2% during the first quarter. Natixis Advisors L.P. now owns 36,199 shares of the utilities provider’s stock valued at $2,305,000 after purchasing an additional 1,460 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in shares of Edison International by 5.4% during the first quarter. First Republic Investment Management Inc. now owns 20,293 shares of the utilities provider’s stock valued at $1,292,000 after purchasing an additional 1,037 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Edison International by 10.0% during the first quarter. Great West Life Assurance Co. Can now owns 646,043 shares of the utilities provider’s stock valued at $41,167,000 after purchasing an additional 58,785 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Edison International stock opened at $67.66 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $22.27 billion, a P/E ratio of 15.04, a P/E/G ratio of 2.87 and a beta of 0.09. Edison International has a one year low of $57.63 and a one year high of $83.38.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 26th. The utilities provider reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.01. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.97 billion. Edison International had a return on equity of 10.27% and a net margin of 4.34%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. equities analysts predict that Edison International will post 4.08 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be paid a $0.605 dividend. This represents a $2.42 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Thursday, September 27th. Edison International’s dividend payout ratio (DPR) is presently 53.78%.

EIX has been the topic of a number of recent research reports. ValuEngine raised Edison International from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 28th. Bank of America lifted their price target on Edison International from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Zacks Investment Research raised Edison International from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Argus lifted their price objective on Edison International to $75.00 and gave the stock a “buy” rating in a research note on Monday, July 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Edison International from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, June 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $73.71.

About Edison International

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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