Greenwood Capital Associates LLC Buys Shares of 4,001 Edison International (EIX)

Greenwood Capital Associates LLC bought a new position in Edison International (NYSE:EIX) during the 4th quarter, HoldingsChannel reports. The fund bought 4,001 shares of the utilities provider’s stock, valued at approximately $253,000.

Other hedge funds have also recently modified their holdings of the company. Cerebellum GP LLC acquired a new position in Edison International in the 4th quarter worth about $116,000. Amica Retiree Medical Trust acquired a new position in Edison International in the 3rd quarter worth about $138,000. First Command Financial Services Inc. acquired a new position in Edison International in the 4th quarter worth about $154,000. TCI Wealth Advisors Inc. increased its position in Edison International by 139.7% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 1,533 shares during the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in Edison International in the 2nd quarter worth about $204,000. 80.09% of the stock is currently owned by institutional investors.

In related news, insider Ronald L. Litzinger sold 224,718 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the completion of the sale, the insider now owns 14,121 shares in the company, valued at approximately $1,157,922. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.41% of the stock is owned by corporate insiders.

Several analysts have recently issued reports on the company. SunTrust Banks reiterated a “buy” rating and set a $85.00 price target on shares of Edison International in a research note on Thursday, December 7th. Goldman Sachs Group set a $70.00 price target on Edison International and gave the stock a “hold” rating in a research note on Friday, December 15th. Citigroup upped their price target on Edison International from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. Zacks Investment Research downgraded Edison International from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $74.00 price target on shares of Edison International in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $78.57.

Shares of Edison International (EIX) opened at $60.51 on Tuesday. The stock has a market capitalization of $20,069.97, a PE ratio of 13.66, a PEG ratio of 2.27 and a beta of 0.17. Edison International has a 52 week low of $60.33 and a 52 week high of $83.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.51.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were paid a dividend of $0.605 per share. This is an increase from Edison International’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.42 annualized dividend and a yield of 4.00%. Edison International’s dividend payout ratio is presently 54.63%.

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

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