Danica Pension Livsforsikringsaktieselskab Acquires 11,371 Shares of Edison International $EIX

Danica Pension Livsforsikringsaktieselskab acquired a new stake in Edison International (NYSE:EIX) during the third quarter, Holdings Channel reports. The fund acquired 11,371 shares of the utilities provider’s stock, valued at approximately $611,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McKinney Capital Management LLC boosted its stake in Edison International by 9.9% during the 3rd quarter. McKinney Capital Management LLC now owns 19,839 shares of the utilities provider’s stock worth $1,066,000 after purchasing an additional 1,789 shares during the last quarter. Carson Advisory Inc. raised its position in shares of Edison International by 14.6% in the third quarter. Carson Advisory Inc. now owns 82,324 shares of the utilities provider’s stock valued at $4,423,000 after buying an additional 10,497 shares during the last quarter. Allworth Financial LP raised its position in shares of Edison International by 1.6% in the third quarter. Allworth Financial LP now owns 35,291 shares of the utilities provider’s stock valued at $1,896,000 after buying an additional 561 shares during the last quarter. Private Advisory Group LLC purchased a new position in shares of Edison International in the third quarter worth about $9,425,000. Finally, Eurizon Capital SGR S.p.A. lifted its stake in shares of Edison International by 7.3% in the third quarter. Eurizon Capital SGR S.p.A. now owns 230,870 shares of the utilities provider’s stock worth $12,403,000 after buying an additional 15,744 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on EIX shares. Bank of America lowered shares of Edison International from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $81.00 to $51.00 in a research report on Tuesday, September 1st. Jefferies Financial Group downgraded shares of Edison International from a “hold” rating to an “underperform” rating and cut their price objective for the company from $53.00 to $42.00 in a report on Friday, October 2nd. The Goldman Sachs Group set a $67.00 target price on shares of Edison International in a research note on Thursday, October 15th. Mizuho set a $63.00 target price on Edison International in a report on Monday, November 2nd. Finally, Barclays upped their price target on Edison International from $53.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, October 30th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $60.58.

Edison International Trading Up 0.4%

Shares of NYSE EIX traded up $0.24 during trading on Friday, hitting $60.23. 1,872,958 shares of the company were exchanged, compared to its average volume of 3,152,028. Edison International has a 12-month low of $51.10 and a 12-month high of $81.62. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.71 and a current ratio of 0.77. The company has a fifty day moving average price of $56.53 and a 200-day moving average price of $67.67. The firm has a market capitalization of $23.17 billion, a PE ratio of 6.40, a P/E/G ratio of 2.54 and a beta of 0.56.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, October 29th. The utilities provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.11. Edison International had a net margin of 20.50% and a return on equity of 14.17%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The company’s revenue was down 15.0% compared to the same quarter last year. As a group, equities research analysts expect that Edison International will post 6.13 EPS for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Wednesday, October 7th were paid a dividend of $0.8775 per share. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $3.51 dividend on an annualized basis and a yield of 5.8%. Edison International’s payout ratio is 37.30%.

Insiders Place Their Bets

In other Edison International news, Director Peter Taylor sold 500 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $55.56, for a total value of $27,780.00. Following the transaction, the director directly owned 33,212 shares in the company, valued at $1,845,258.72. The trade was a 1.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by insiders.

About Edison International

Edison International is a holding company focused on electric power generation and delivery. Its principal subsidiary, Southern California Edison (SCE), is a regulated electric utility that serves homes and businesses across much of central and Southern California. SCE operates and maintains the electric grid, including transmission and distribution infrastructure, and works to support the region’s shift to cleaner energy. Edison International also provides energy advisory and management services through its Edison Energy business.