Marks Group Wealth Management Inc Sells 578 Shares of Edison International (NYSE:EIX)

Marks Group Wealth Management Inc decreased its holdings in shares of Edison International (NYSE:EIX) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,673 shares of the utilities provider’s stock after selling 578 shares during the period. Marks Group Wealth Management Inc’s holdings in Edison International were worth $3,020,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EIX. Highline Wealth Partners LLC purchased a new stake in shares of Edison International in the 3rd quarter valued at about $26,000. Eastern Bank purchased a new stake in Edison International in the third quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International in the second quarter valued at approximately $27,000. Concord Wealth Partners lifted its position in Edison International by 277.0% during the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 277 shares during the last quarter. Finally, Country Trust Bank purchased a new position in Edison International in the 2nd quarter worth approximately $29,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Up 1.2 %

Shares of NYSE EIX opened at $81.97 on Wednesday. The firm’s fifty day moving average is $85.25 and its 200 day moving average is $79.06. Edison International has a 52 week low of $62.21 and a 52 week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a market cap of $31.73 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.89 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the firm posted $1.38 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is 91.50%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EIX. Evercore ISI raised their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Royal Bank of Canada lifted their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Barclays increased their price objective on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. UBS Group boosted their target price on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.36.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,877 shares of company stock worth $4,285,341 over the last 90 days. 1.20% of the stock is owned by company insiders.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.