Edison International (EIX) Insider Ronald L. Litzinger Sells 26,035 Shares
Edison International (NYSE:EIX) insider Ronald L. Litzinger sold 26,035 shares of the business’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $74.64, for a total transaction of $1,943,252.40. Following the transaction, the insider now owns 11,354 shares of the company’s stock, valued at approximately $847,462.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Edison International (NYSE:EIX) traded up 1.08% during trading on Thursday, reaching $75.79. 1,254,405 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $72.73 and a 200 day moving average price of $72.17. The stock has a market capitalization of $24.69 billion, a P/E ratio of 28.10 and a beta of 0.15. Edison International has a 1-year low of $62.83 and a 1-year high of $78.72.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th were paid a dividend of $0.5425 per share. The ex-dividend date of this dividend was Wednesday, December 28th. This represents a $2.17 dividend on an annualized basis and a yield of 2.86%. This is an increase from Edison International’s previous quarterly dividend of $0.48. Edison International’s dividend payout ratio (DPR) is currently 80.67%.
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Institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Edison International by 0.5% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,912 shares of the company’s stock worth $210,000 after buying an additional 14 shares in the last quarter. Baystate Wealth Management LLC increased its position in shares of Edison International by 0.5% in the third quarter. Baystate Wealth Management LLC now owns 3,042 shares of the company’s stock worth $220,000 after buying an additional 16 shares in the last quarter. Washington Trust Bank increased its position in shares of Edison International by 0.9% in the third quarter. Washington Trust Bank now owns 2,777 shares of the company’s stock worth $201,000 after buying an additional 25 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Edison International by 0.9% in the third quarter. Raymond James Trust N.A. now owns 4,390 shares of the company’s stock worth $317,000 after buying an additional 41 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Edison International by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,677 shares of the company’s stock worth $1,345,000 after buying an additional 69 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.
EIX has been the subject of a number of analyst reports. Evercore ISI upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Thursday, January 19th. RBC Capital Markets set a $81.00 target price on shares of Edison International and gave the stock a “buy” rating in a research note on Wednesday, January 4th. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Tuesday, January 3rd. Finally, Barclays PLC boosted their target price on shares of Edison International from $73.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Friday, January 20th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $77.73.
About Edison International
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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