AIA Group Ltd Lowers Holdings in Edison International (NYSE:EIX)

AIA Group Ltd cut its stake in shares of Edison International (NYSE:EIX) by 39.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,736 shares of the utilities provider’s stock after selling 9,059 shares during the period. AIA Group Ltd’s holdings in Edison International were worth $1,097,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Crews Bank & Trust purchased a new position in shares of Edison International during the fourth quarter worth $25,000. Groupama Asset Managment boosted its holdings in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 237 shares during the period. Sierra Ocean LLC acquired a new position in Edison International in the 4th quarter valued at about $33,000. ST Germain D J Co. Inc. grew its holdings in shares of Edison International by 88.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of Edison International by 285.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 311 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on EIX shares. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research note on Wednesday, January 15th. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Wells Fargo & Company lowered their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. Finally, Barclays dropped their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $76.82.

Edison International Stock Up 1.3 %

EIX stock opened at $58.95 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company’s 50 day simple moving average is $54.93 and its 200-day simple moving average is $72.24. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The firm has a market capitalization of $22.70 billion, a PE ratio of 17.29, a P/E/G ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

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.