Cigna Investments Inc. New Sells 900 Shares of Edison International (EIX)
Cigna Investments Inc. New cut its stake in shares of Edison International (NYSE:EIX) by 6.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 12,457 shares of the utilities provider’s stock after selling 900 shares during the period. Cigna Investments Inc. New’s holdings in Edison International were worth $981,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of EIX. Guardian Life Insurance Co. of America boosted its position in 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 buying an additional 8 shares in the last quarter. Jones Collombin Investment Counsel Inc boosted its position in shares of Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock worth $139,000 after buying an additional 715 shares during the period. Parallel Advisors LLC boosted its position 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 worth $198,000 after buying an additional 741 shares during the period. Wayne Hummer Investments L.L.C. bought a new position in shares of Edison International during the first quarter worth about $200,000. Finally, Gofen & Glossberg LLC IL bought a new position in shares of Edison International during the first quarter worth about $201,000. Institutional investors and hedge funds own 81.85% of the company’s stock.
Edison International (EIX) opened at 79.67 on Friday. The firm has a market cap of $25.96 billion, a price-to-earnings ratio of 18.84 and a beta of 0.22. The firm’s 50 day moving average price is $78.42 and its 200 day moving average price is $78.60. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.85. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. Edison International’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $0.85 earnings per share. Equities research analysts anticipate that Edison International will post $4.24 EPS for the current fiscal year.
EIX has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Edison International from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Thursday, July 6th. Mizuho restated a “buy” rating and set a $91.50 target price on shares of Edison International in a report on Wednesday, April 19th. Barclays PLC restated an “equal weight” rating and set a $84.00 target price (up previously from $78.00) on shares of Edison International in a report on Sunday, April 23rd. Morgan Stanley restated an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. Finally, Jefferies Group LLC restated a “hold” rating on shares of Edison International in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Edison International has an average rating of “Hold” and a consensus price target of $83.96.
In related news, insider Ronald L. Litzinger sold 26,035 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $78.85, for a total transaction of $2,052,859.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gaddi H. Vasquez sold 2,500 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $81.30, for a total value of $203,250.00. Following the sale, the insider now directly owns 4,550 shares of the company’s stock, valued at $369,915. The disclosure for this sale can be found here. Insiders have sold 31,035 shares of company stock valued at $2,460,285 over the last ninety days. 0.41% of the stock is currently owned by company insiders.
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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