Hartford Investment Management Co. Sells 464 Shares of Edison International (NYSE:EIX)

Hartford Investment Management Co. lessened its position in shares of Edison International (NYSE:EIX) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,970 shares of the utilities provider’s stock after selling 464 shares during the quarter. Hartford Investment Management Co.’s holdings in Edison International were worth $1,914,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EIX. AMF Tjanstepension AB lifted its position in Edison International by 9.8% during the 3rd quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock valued at $23,662,000 after purchasing an additional 24,208 shares during the period. CWM LLC lifted its holdings in Edison International by 5.4% in the third quarter. CWM LLC now owns 12,313 shares of the utilities provider’s stock valued at $1,072,000 after buying an additional 626 shares during the period. Exchange Traded Concepts LLC boosted its stake in Edison International by 597.6% in the third quarter. Exchange Traded Concepts LLC now owns 3,858 shares of the utilities provider’s stock valued at $336,000 after acquiring an additional 3,305 shares during the last quarter. Creative Planning grew its holdings in Edison International by 6.4% during the 3rd quarter. Creative Planning now owns 50,962 shares of the utilities provider’s stock worth $4,438,000 after acquiring an additional 3,078 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Edison International during the 3rd quarter valued at $237,000. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EIX. UBS Group reduced their price target on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. Wells Fargo & Company increased their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday. Finally, Barclays lowered their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $82.11.

Edison International Trading Down 2.2 %

EIX opened at $51.55 on Friday. The firm’s fifty day simple moving average is $68.48 and its 200 day simple moving average is $78.92. The stock has a market capitalization of $19.96 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.05 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 6.42%. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio is currently 97.07%.

Edison International Profile

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.