Dai Ichi Life Insurance Company Ltd Has $1.97 Million Stake in Edison International (EIX)

Dai Ichi Life Insurance Company Ltd decreased its holdings in shares of Edison International (NYSE:EIX) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,204 shares of the utilities provider’s stock after selling 1,534 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Edison International were worth $1,971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Guardian Life Insurance Co. of America grew its stake in Edison International by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after buying an additional 8 shares during the last quarter. Parallel Advisors LLC grew its stake in Edison International by 41.7% in the 1st quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after buying an additional 741 shares during the last quarter. Wayne Hummer Investments L.L.C. acquired a new position in Edison International in the 1st quarter valued at $200,000. Gofen & Glossberg LLC IL acquired a new position in Edison International in the 1st quarter valued at $201,000. Finally, Bailard Inc. acquired a new position in Edison International in the 1st quarter valued at $201,000. Institutional investors own 81.56% of the company’s stock.

In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the completion of the sale, the insider now owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

A number of research analysts recently issued reports on EIX shares. Zacks Investment Research lowered shares of Edison International from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. BidaskClub upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Morgan Stanley reiterated an “equal weight” rating on shares of Edison International in a research note on Tuesday, July 11th. Jefferies Group LLC reiterated a “hold” rating on shares of Edison International in a research note on Friday, July 14th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $84.00 target price (down from $85.00) on shares of Edison International in a research note on Monday, July 24th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $84.15.

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Shares of Edison International (NYSE EIX) opened at 80.98 on Thursday. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82. The stock’s 50 day moving average is $79.76 and its 200 day moving average is $79.62. The firm has a market cap of $26.38 billion, a P/E ratio of 19.15 and a beta of 0.24.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. Equities research analysts expect that Edison International will post $4.23 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a $0.5425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.17 annualized dividend and a yield of 2.68%. Edison International’s payout ratio is currently 50.82%.

About Edison International

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

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

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