Nomura Holdings Inc. raised its holdings in Edison International (NYSE:EIX) by 190.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,919 shares of the utilities provider’s stock after purchasing an additional 34,692 shares during the period. Nomura Holdings Inc.’s holdings in Edison International were worth $4,156,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in EIX. Guardian Life Insurance Co. of America lifted its holdings in shares of Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 8 shares in the last quarter. Sun Life Financial INC lifted its holdings in shares of Edison International by 16,935.7% in the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after purchasing an additional 2,371 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 741 shares in the last quarter. Bailard Inc. purchased a new stake in shares of Edison International in the first quarter valued at about $201,000. Finally, OxFORD Asset Management LLP purchased a new stake in shares of Edison International in the second quarter valued at about $204,000. 81.53% of the stock is currently owned by institutional investors.
EIX has been the topic of several recent research reports. BidaskClub raised shares of Edison International from a “sell” rating to a “hold” rating in a report on Monday, June 19th. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Thursday, July 6th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Edison International in a report on Friday, July 14th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $84.00 price target (down previously from $85.00) on shares of Edison International in a report on Monday, July 24th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $84.75.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Thursday, September 28th. Edison International’s payout ratio is 50.82%.
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In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total value of $18,098,546.10. Following the completion of the transaction, the insider now directly owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.41% of the company’s stock.
Edison International Company Profile
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.
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