CIBC Asset Management Inc Trims Position in Edison International (EIX)

CIBC Asset Management Inc decreased its position in shares of Edison International (NYSE:EIX) by 6.0% in the fourth quarter, Holdings Channel reports. The firm owned 32,025 shares of the utilities provider’s stock after selling 2,037 shares during the period. CIBC Asset Management Inc’s holdings in Edison International were worth $2,025,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amica Retiree Medical Trust acquired a new stake in Edison International during the third quarter valued at $138,000. Cerebellum GP LLC acquired a new stake in Edison International during the fourth quarter valued at $116,000. First Command Financial Services Inc. acquired a new stake in Edison International during the fourth quarter valued at $154,000. OxFORD Asset Management LLP acquired a new stake in Edison International during the second quarter valued at $204,000. Finally, TCI Wealth Advisors Inc. boosted its position in Edison International by 139.7% during the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 1,533 shares during the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Edison International (EIX) opened at $58.94 on Friday. Edison International has a 1-year low of $57.63 and a 1-year high of $83.38. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $19,200.00, a PE ratio of 13.46, a price-to-earnings-growth ratio of 2.20 and a beta of 0.17.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th were issued a dividend of $0.605 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Thursday, December 28th. Edison International’s dividend payout ratio (DPR) is 55.25%.

A number of analysts recently issued reports on the company. ValuEngine raised Edison International from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Bank of America restated a “buy” rating and set a $86.00 target price on shares of Edison International in a report on Tuesday, October 24th. SunTrust Banks restated a “buy” rating and set a $89.00 target price on shares of Edison International in a report on Monday, October 30th. Citigroup raised their target price on Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, October 17th. Finally, Deutsche Bank cut their target price on Edison International to $78.00 and set a “hold” rating on the stock in a report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $78.57.

In other news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the transaction, the insider now directly owns 14,121 shares in the company, valued at $1,157,922. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by company insiders.

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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.

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

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